Thanks to deregulation, the energy industry will soon have its own e-marketplace. An aggregate of five utility providers has formed Enporion, a global e-marketplace that is aimed at both the energy and utility industries. It's hard to imagine this kind of collaboration in a regulated market.
The five founders include Allegheny Energy, New Century Energies, Minnesota Power, Northern States Power and PPL Corporation. Enporion is expected to launch by the end of this year. Cap Gemini Ernst & Young LLC is the business advisor for the venture.
Commerce One and SAPMarkets have entered into a preliminary memorandum of understanding to deliver their joint marketplace solution to the marketplace. A more definitive agreement is expected sometime in the third quarter of 2000. This venture marks the first joint customer and delivery e-marketplace solution for the utility industry.
"With the current deregulation mode of the utility industry, it is especially important for energy companies to have the tools to reduce costs and better serve our customers," said Claudia Scott Welty, vice president of information technology, Minnesota Power, Inc., and a board member of Enporion. "Enporion, powered by SAPMarkets and Commerce One, provides us with the technology and relationship building power to stay competitive."
Enporion is derived from the English word "emporium," meaning a marketplace that carries a diversity of merchandise. The root of the word emporium can be traced back to the ancient Greek word, "emporos", meaning a trader or traveler. The prefix "en" refers to the company's business marketplace - the energy industry.