Pantellos Corp, which launched an internet procurement scheme with 15 leading US energy companies, is expanding. When the business-to-business for profit exchange launched at the end of March, the consortium included AEP, Cinergy, ConEd, Duke, Edison International, Entergy, First Energy, FPL, PG&E, PSEG, Reliant, Sempra, Southern, TXU and Unicom.
Since then, the membership has grown to 21 energy companies and now also includes Carolina Power & Light, DTE Energy, Dominion Resources, El Paso Energy, GPU Inc and Ontario Power Generation. The exchange has a capitalisation of $100 million and has selected Commerce One as its primary technology partner.
A Scottish Power/Endesa-led consortium is the latest group to launch an internet purchasing exchange, due online by late summer. With an estimated initial spending power of around $18 billion, accounting for about one-third of the annual European spend on goods and services, it expects to make savings of up to 50 per cent on transaction costs. Other members of the 12-strong consortium are Electricité de France, ENEL, RWE, Vattenfall, Iberdrola, Electrabel, Nuon of the Netherlands and UK companies National Grid, United Utilities and Northern Electric.