August 18, 2008
ACES Power Marketing Supports Renewable Resource Provider
CARMEL, Ind., Aug. 18 /PRNewswire/ -- ACES Power Marketing (APM) - a nationally recognized wholesale energy risk management and transaction execution service company - has executed an agreement with independently-owned Pennsylvania Renewable Resources Associates (PRRA) to provide a suite of services to PRRA's hydroelectric generating facility in the PJM market. PRRA is APM's first independent power producer (IPP) customer in PJM as well as its first renewable resource customer in that market.
In markets across the U.S., APM provides its services to a wide variety of energy industry participants - cooperatives, municipal and public power utilities, investor-owned utilities, financial institutions, industrial customers, and IPPs and renewable resource providers like PRRA.The services that APM will provide to PRRA include power scheduling, assistance in the PJM capacity auctions, and assistance with evaluating and developing strategies around Renewable Energy Credits (RECs). APM will also be helping PRRA to develop and implement a state-of-the-art trading control environment around its market activities.
"APM responded quickly and expertly to our need to transition to new risk management services," said Jeffrey Kossak, President of PRRA. "We have been very impressed with their knowledge and professionalism."
"This transaction highlights a couple of important facts about APM," said Jennifer Perrenot, APM Director of Business Development. "We can provide targeted risk management services to a client with specific outsourcing needs, and our services can support the rapidly growing renewable energy segment of our industry."
ACES Power Marketing, headquartered in Carmel, Indiana, began its operations in February of 1999 and is owned by fifteen generation and transmission cooperatives and one distribution cooperative. It also provides services to dozens of customers including cooperatives, municipals, irrigation and public water agencies, financial institutions, industrial companies and independent power producers.
APM's business strategy is unique in the energy marketing and trading industry. It operates as an energy risk management and hedge manager, developing strategies, implementing trading controls, and managing transaction execution for multiple entities as their legal agent. APM's business process allows its customers to actively participate in the hedging strategy by collectively utilizing APM's infrastructure and resources to assess risks and execute specific, customized portfolio strategies. APM does not transact for its own account, nor does it speculate in the market for its owners or customers.
Pennsylvania Renewable Resources Associates (PRRA) is a Pennsylvania limited partnership with principal executive offices at 730 Fifth Avenue, Suite 1901, New York, New York 10019. PRRA owns a hydroelectric facility on the Conemaugh River in Pennsylvania with a nameplate capacity of 15 MW.
Questions for ACES Power Marketing can be directed to John Sturm, Vice President of Corporate Development, at 317-344-7034 or [email protected] .
Questions for PRRA can be directed to Jeffrey Kossak, President at 212-245-2721 or [email protected] .
ACES Power Marketing
Web site: http://www.acespower.com/