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Great River Energy Becomes 17th Member of ACES Power Marketing

Posted on: Monday, 27 April 2009, 14:24 CDT

Great River Energy Retains APM as its Agent for Energy Portfolio Management; APM Establishes North Regional Trading Center in Maple Grove, Minn.

MAPLE GROVE, Minn. and CARMEL, Ind., April 27 /PRNewswire/ -- Great River Energy, a Minnesota wholesale power cooperative, this week becomes the 17th member-owner of ACES Power Marketing (APM), a 170-employee national energy risk management and trading services company headquartered in Carmel, Ind.

APM will act as Great River Energy's agent for energy market transactions, and will provide portfolio management, risk management and other services. In addition, APM has established its North Regional Trading Center in Maple Grove, Minn., from which APM will manage energy portfolios for Great River Energy and other prospective clients in the region. To staff its North Regional Trading Center, APM has retained most of the Great River Energy employees who had performed the organization's in-house energy market function, and plans to hire or transfer several additional employees. APM also operates regional trading centers in Carmel, Ind., and Cary, N.C.

"We are pleased to join ACES Power Marketing," said David Saggau, Great River Energy president and CEO. "APM has a clear track record of providing disciplined, creative management of its members' electric generation portfolios and load requirements. The APM model of using its national expertise and economies of scale to optimize its members' energy resources in the wholesale market is the right approach for our organization."

"Membership in APM will help Great River Energy manage costs in the wholesale power market," added Don Holl, Great River Energy board chair. "Joining APM is another step our organization is taking to help contain rising power costs."

"APM has been providing risk management consulting services to Great River Energy since 2007. Now the G&T organization is taking an important step in joining our other members, which we hope will result in enhanced energy portfolio management and operational success for Great River Energy and future growth in the region for APM," said David J. Tudor, president and CEO of APM.

About Great River Energy

Great River Energy is the second largest electric utility in Minnesota and the fifth largest G&T cooperative in the U.S. It provides wholesale electric service to 28 distribution cooperatives in Minnesota and Wisconsin. Those member cooperatives distribute electricity to more than 630,000 homes, businesses and farms.

Great River Energy's generation fleet includes an effective mix of baseload and peaking power plants, including coal, refuse-derived fuel, natural gas and oil plants, as well as wind generation. Great River Energy owns and operates more than 4,500 miles of transmission line and owns or jointly owns more than 100 transmission substations.

Great River Energy and its member cooperatives are not-for-profit companies owned by the members they serve. Great River Energy is a Touchstone Energy(R) cooperative.

Questions for Great River Energy can be directed to Lori Buffington, Communications Specialist, at 763-445-5714 or lbuffington@GREnergy.com.

About ACES Power Marketing

ACES Power Marketing, headquartered in Carmel, Ind., began its operations in February of 1999, and is owned by 17 power supply cooperatives. It also provides services to over 30 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.

Questions for ACES Power Marketing can be directed to John Sturm, Vice President of Corporate Development, at 317-344-7034 or johnst@acespower.com.

SOURCE ACES Power Marketing and Great River Energy

Source: PR Newswire

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