CARMEL, Ind. and JACKSONVILLE, Ill., Dec. 13, 2010 /PRNewswire/ -- Prairie Power, Inc. (PPI), an Illinois based wholesale power cooperative, has joined as the 18th Member-Owner of ACES Power Marketing (APM), effective January 1, 2011. APM is a 200 employee national energy risk management and trading services company headquartered in Carmel, Indiana.
APM will provide Prairie Power a broad suite of energy risk management services related to portfolio modeling and risk analytics, transmission congestion evaluations, mid-term trading, and long-term origination. Prairie Power selected the specific services it initially needs from APM, but will have the opportunity to select other services as its resource portfolio, energy markets, and fuel risks change.
"ACES Power Marketing demonstrated to us they deserved our business and that they have sound, cost-effective solutions to help us manage our wholesale energy needs and risk," said Jay Bartlett, Prairie Power President & CEO.
David Tudor, President & CEO of ACES Power Marketing added, "Prairie Power gradually changed its power supply portfolio over the last couple of years and was seeking more sophisticated analytical tools and market intelligence. We are excited about the opportunity to complement Prairie Power's fine staff with these services and look forward to a long term, growing relationship."
About Prairie Power, Inc.
Prairie Power, Inc. is a Member-owned, not-for-profit electric generation and transmission cooperative located in Jacksonville, IL. PPI produces, purchases, and delivers over 1.5 million megawatt-hours of electricity to its 10 Member-owned electric distribution cooperatives. PPI's distribution cooperatives provide retail electric service to over 78,000 residential, agricultural, commercial and industrial consumer-members throughout central Illinois. PPI is one of more than 60 generation and transmission (G&T) cooperatives that supply wholesale electric power to rural electric utilities in the United States.
PPI owns and operates approximately 574 miles of transmission at 138 kV, 69 kV, and 34.5 kV serving 78 distribution and transmission substations. PPI owns and operates 22 MW of coal-fired base load generation, 150 MW of oil and gas-fired peaking units, and has an 8.2 percent joint ownership interest in the 1,600 MW Prairie State advanced clean-coal technology plant under development in Southern Illinois. PPI is also one of over 700 Touchstone Energy® Cooperatives in the United States. See http://www.ppi.coop/assets.htm for more information.
Questions for Prairie Power can be directed to Greg Nieman, Director Administrative Services, at 217-245-6161 or email@example.com.
About ACES Power Marketing
ACES Power Marketing, headquartered in Carmel, Ind., began its operations in February of 1999, and is owned by 18 power supply cooperatives. It also provides services to over 25 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.
In addition to its headquarters, APM operates regional trading centers in Maple Grove (Minneapolis), MN and Cary (Raleigh), NC.
Questions for ACES Power Marketing can be directed to John Sturm, Vice President of Corporate and Regulatory Affairs, at 317-344-7034 or firstname.lastname@example.org.
SOURCE ACES Power Marketing