Energy Services Group (ESG), the leading provider of transaction management services to energy companies, reported today several significant milestones achieved thus far in 2002. ESG's strong growth continues with the expansion of its electronic business transaction (EBT) network to support 241 trading partner interfaces with over 40 energy company clients. ESG's client base operates in 20 states with the help of billing, enrollment, customer service, financial and other data processing capabilities provided by ESG. Recently, ESG added 24 trading partner interfaces by supporting 9 clients operating with 17 unique trading partners in New York, Ohio, Illinois, Michigan, Virginia, Delaware, Texas and New Jersey.
ESG has developed the largest energy EBT network in the U.S. by consistently delivering lower operating costs, unparalleled customer service, greater functionality, rapid and reliable market access and greatly reduced business risks. ESG's EBT network today connects over 40 clients to over 100 competitive retail gas and electric trading partners. Many of ESG's clients are operating in over 20 distribution company service territories.
"During the first 8 months of 2002, ESG added 16 new clients and signed a number of agreements with existing clients for new markets and services. ESG has achieved significant client, market and service diversity and as a result has generated growth in revenue. " said Nate Owen, ESG's president and chief executive officer. "In addition to adding clients and generating favorable financial results, the company expanded its service offerings to include ESG's Supplier and Utility Portals which enable retail energy suppliers and utilities to interact using web, XML, and other data exchange technologies," added Owen. Twelve ESG clients are actively using the Portals to manage their EBT reporting and daily processing requirements.
ESG also launched energy Total Solutions Platform (eTSP), an end-to-end, fully integrated, outsourced solution offering Billing, Contract Structuring, Load Forecasting & Scheduling, and Settlement for energy markets. "ESG offers retail and wholesale energy companies a proven solution with advanced back office functionality and broad market coverage at much lower start-up and recurring costs," said Owen.
About Energy Services Group
Energy Services Group, Inc. (ESG), with headquarters in Massachusetts, is the leading provider of electronic business transaction and billing services tailored to meet the requirements of competitive natural gas and electricity markets. Using back office systems staffed by experienced energy professionals, ESG enables distribution companies, energy suppliers and other energy companies to successfully and cost-effectively operate in the nation's competitive energy markets. For more information, visit our Web site at www.EnergyServicesGroup.net.
For Information please contact:
Bob Potter, VP Business Development
(603) 868-2702
bpotter@EnergyServicesGroup.net
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