BP Amoco (BPA) is to take a three percent interest in Altra Energy Technologies, Inc, a wholesale energy exchange. Altra operates Altrade, a real-time, anonymous electronic marketplace where customers trade natural gas, crude oil, natural gas liquids and power on-line.
BPA will commit to transact a fixed volume of energy products, including physical and ‘financial’ natural gas and liquids via Altra’s e-commerce exchange. Tony Fountain, president of BPA’s North America gas and power unit said "Altra is the leading neutral energy exchange and we want to improve their success as we increase our web-based trading. BPA has invested in several neutral energy exchanges which harness the power of the Internet to bring a more transparent, low cost, multi-party market to a broader range of energy product buyers and sellers."
Recently, the company partnered with Excelergy Corporation, a provider of web-based customer information and transaction management to the deregulating retail energy market. "These agreements create a ‘wholesale-to-retail’ solution for our energy customers, providing web-based energy information and real-time pricing across the US," said Mary Shields, director of business development for BP Amoco gas and power.
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