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WESTPORT, CT (U.S.), March 18th, 2002 – On the heels of unveiling Power XL earlier this month, Triple Point Technology today announced its acquisition of Energy Crossroads, an application service provider based in Irvine, California. Terms of the deal were not disclosed.

Now a service of Triple Point Technology, Energy Crossroads provides a cost-effective, outsourced solution to mid-market utilities, retailers, and independent power producers for managing their transactions in de-regulated, wholesale energy markets. "Uniting Energy Crossroads and Power XL means that a wider spectrum of power companies will have the resources to compete more effectively and profitably against the backdrop of de-regulating global utility markets," said Triple Point Technology President, Peter F. Armstrong.

Founded in early 2000, Energy Crossroads’ menu of Internet-based products and services quickly attracted a sizable client base of West Coast utilities, including Anaheim Public Utilities, Grant County Public Utilities, and the cities of Pasadena, Burbank, and Glendale. Energy Crossroads will operate under the supervision of its founder, Dilip Daswani, a recognized expert in the use of technology in newly de-regulated commodity markets.

"Energy Crossroads enables middle-tier utilities to quickly ramp up and conduct business in de-regulated markets without the worry of tracking and implementing continuously evolving rules; we monitor these changes and embed them in our software," said Mr. Daswani. Sophisticated software applications and tools also help firms optimize their power generation and assets, manage risk, reduce costs for power supply and management, and streamline communications and transaction processing with ISOs (Independent System Operators) and RTOs (Regional Transmission Organizations).

A next-generation trading system for electricity and natural gas markets worldwide, Power XL enables utilities and power trading companies to calculate and analyze volumetric risk on an hourly basis. Volumetric risk is the impact on revenue resulting from swings in demand for power. Scenario and value-based risk management tools also provide these firms a more complete picture of their position, or supply obligations and expected generation loads (how much energy a utility must carry at any given time). Power XL combines this granularity of
position keeping with rich trading functionality for hedging and speculative purposes.

The position management, risk management and valuation tools offered through Power XL surpass older trading systems that treat electricity as a basic, "commoditized" product usually represented as a 16 hour or 8 hour block. The reality of today’s de-regulated markets means that utilities must have a means of ascertaining the megawatts of electricity each of their customers will need and use, down to an hourly granularity (interval). The valuation must take into account, for example, changes in weather, planned and forced outages and peak and off-peak price differentials for a given location where the energy supply is being provided.

Triple Point Technology provides trading systems for a multitude of commodities. These systems chiefly assist traders in managing their exposure to risk (market, credit/client); capturing critical, voluminously disparate data for real-time decision making; and providing a framework for addressing complexities in commerce and finance, such as increased market volatility, shrinking margins and the growth of exotic derivative instruments.

Triple Point’s scalable and high performance trading system solutions offer open access via database independence and XML messaging, and operate in a distributed, n-tier, J2EE-compliant environment over a LAN, WAN, or via the Internet or ASP. These enterprise-wide systems also interface with a firm’s trading partners, on-line exchanges, suppliers, vendors, and clients via an Internet connection. Triple Point Technology’s professional services division partners with clients on the analysis of business processes, customized trading system solutions, installation, implementation, and complete project management.

Founded in 1993 and privately held, Triple Point Technology, Inc. is widely recognized by traders, CEOs, and CFOs at more than 70 multinational energy, power, and financial services firms, for creating innovative, scalable, and integrated mission-critical business processes through its commodity trading systems. The firm’s technology supports the largest volume commodities trading operations around the world. Representative clients include BP, Morgan Stanley, Reliance, Duke Energy, Amerada Hess, and Cinergy. Headquartered in Westport,
Connecticut (U.S.A.), Triple Point Technology operates worldwide, with London and Singapore serving as international hubs.