ENRON LAUNCHES FIRST ONLINE EMISSIONS ALLOWANCE AUCTION
FOR IMMEDIATE RELEASE: Thursday, March 9, 2000
HOUSTON - Enron announced today the launch of the first online sulfur dioxide (SO2) emissions allowance auction. The auction will be accessible through Enron’s Internet-based transaction system, EnronOnline.
The initial emissions allowance auction will begin March 13 and extend through March 16, 2000. During this period, users will be able to place online orders, free of charge, for the purchase or sale of SO2 allowances. Enron will sell a minimum of 15,000 allowances during the auction, subject to the online reservation price. Enron’s auctions for SO2 emissions allowances will be held on a monthly basis.
“Using the EnronOnline platform to offer auction capabilities will help increase liquidity in the SO2 allowances market,” said Greg Woulfe, director of emissions trading at Enron North America. “The online auction system is efficient and convenient for customers and provides the advantage of a streamlined transaction process.”
Enron successfully launched its online auction system in the UK when it ran its second annual natural gas storage auction, EnBank, via the EnronOnline website. The first round of online bidding ended with the completion of several long-term storage contracts.
EnronOnline is a global, Internet-based system for conducting wholesale energy and other commodity transactions with Enron. More than 25,000 transactions have been completed via EnronOnline since its inception in November 1999. More information about Enron’s SO2 emissions allowance auction will be available at www.enrononline.com beginning March 13.
Enron is one of the world’s leading electricity, natural gas and communications companies. The company, which owns approximately $34 billion in energy and communications assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide, delivers physical commodities and financial and risk management services to customers around the world, and is developing an intelligent network platform to facilitate online business. Enron’s Internet address is www.enron.com and the stock is traded under the ticker symbol, “ENE.”
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For additional information please contact:
Shelly Mansfield
(713) 853-4589
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