Vattenfall joins procurement exchange portal
Vattenfall joins procurement exchange portal Vattenfall and ten leading utilities from across Europe today signed a shareholders' agreement to form an independent industry procurement exchange named Eutilia. Internet-based trading will start this spring and will focus on catalogue purchasing, forward and reverse auctions and procurement management information. Eutilia's headquarters will be based in Leiden in the Netherlands. Eutilia will be a neutral marketplace and will provide value added services for both suppliers to and buyers in the utility industry by giving them greater market reach and reducing transaction costs. Its initial focus will be on the European electricity and water industries. Eutilia will provide an exchange that will improve the efficiency of procurement, supply chain management and capacity utilisation. The estimated collective annual procurement spending (including capital expenditure but excluding labour and fuel) of the founder utilities exceeds 30 billion Euro. The founders of Eutilia are Vattenfall (Sweden), Scottish Power (UK), Endesa (Spain), EDF (France), RWE (Germany), Enel (Italy), Iberdrola (Spain), Electrabel (Belgium), United Utilities (UK), National Grid Company (UK) and Nuon (Netherlands). Issued by Vattenfall's Press Office, telephone +46 8 739 50 10. For further information, please contact: Gunnar Norström, Vattenfall AB, Group Strategies, telephone: +46-8-739 73 72. Vattenfall is one of the largest energy companies in Europe, accounting for 25 percent of total electricity sales in the Nordic region. The total electricity generation is 85 TWh. Vattenfall is a leading operator of regional and local distribution networks. About 2.4 millions customers get their energy solutions or other services from Vattenfall. The Group also conducts operations in the areas of heating and natural gas, as well as transmission services and consulting for the energy sector. Vattenfall's biggest customers are energy companies, industrial enterprises, and retail customers in the Nordic region. Vattenfall is also active in Germany, Poland, the Netherlands, and the Baltic countries. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/01/29/20040817BIT20660/wkr0001.pdf