ACES Power Marketing Opens West Regional Trading Center
WECC Expansion Driven by Member Needs Expected to Enhance Growth Opportunities
CARMEL, Ind., May 11, 2011 /PRNewswire/ -- ACES Power Marketing (APM) – a nationally recognized wholesale energy risk management and transaction execution service company – significantly expanded its presence in the western U.S. electricity market on May 1st by opening its West Regional Trading Center (WRTC) in Benson, AZ.
In conjunction with this opening, nine staff members have transitioned from Arizona Electric Power Cooperative (AEPCO) to become APM staff, and APM modified its service agreement with AEPCO to expand the services provided to include electricity and natural gas trade execution services (on an as-agent basis).
Furthermore, on October 1st, 2011, AEPCO will begin providing trade execution services to the Central Arizona Water Conservation District (CAWCD) to support approximately 475MW of peak load, in addition to AEPCO's existing 575MW of firm peak load. APM, as AEPCO's agent in the WECC market, will play a pivotal role in supporting AEPCO's service agreement with CAWCD, including expanding the trading operations at the new WRTC.
Patrick Ledger, Executive Vice President and CEO of AEPCO stated, "Our Board and senior management thoroughly evaluated the decision to leverage our membership in APM more fully. We feel that blending our existing trading staff into the APM culture will result in a more efficient and sophisticated trading operation and will benefit AEPCO's members and customers for a long time to come."
"Establishing a Regional Trading Center in Arizona has benefits for both APM and AEPCO. It meets our strategic goal of expanding our business in the West while assisting AEPCO with their business goals," explained David J. Tudor, President and CEO of APM.
About AEPCO
AEPCO owns and operates the 600 MW (gross rated) Apache generating station in Cochise, Arizona, east of Benson and south of Willcox. AEPCO is the generating entity of Arizona's G&T Cooperatives (www.azgt.coop) which also includes Southwest Transmission Cooperative, Inc., (SWTC), the transmission side of operations, and Sierra Southwest Cooperative Services, Inc., (Sierra) which provides the manpower and support services for the three cooperatives. Arizona's G&T Cooperatives are members of Touchstone Energy (www.touchstoneenergy.com) with "The Power of Human Connections."
About ACES Power Marketing
ACES Power Marketing, headquartered in Carmel, Indiana, began its operations in February of 1999, and is owned by eighteen (18) power supply cooperatives. It also provides services to over 50 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 and Regulatory Affairs, at (317) 344-7034 or [email protected].
Questions for Arizona Electric Power Cooperative can be directed to Geoff Oldfather, Communications and Public Relations Manager at (520) 586-5465 or [email protected].
SOURCE ACES Power Marketing
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