ACES Power Marketing Supports New 150-MW Iowa Wind Project

ACES Power Marketing, a nationally recognized wholesale energy risk management and transaction execution services company — today announced that its origination efforts have paid off with the successful commencement of commercial operation of the 150-MW Story County wind project. The project is owned and operated by a subsidiary of FPL Energy, with varying amounts of energy being provided under separate purchased power agreements (PPAs) with several G&T cooperatives including Buckeye Power, Inc. (serving Ohio), Central Iowa Power Cooperative, Hoosier Energy (serving Indiana and Illinois), North Carolina Electric Membership Corporation, PowerSouth Energy Cooperative (serving Alabama and Florida) and Wabash Valley Power Association (serving several midwestern states). The contracts were all negotiated with APM’s help and support.

This is believed to be the first time several G&T cooperatives operating in different regions of the country have banded together to reap the benefits of a large-scale wind project.

The decision of all six cooperatives to participate in the project through PPAs, the hard work and determination of FPL Energy to get the project completed, and the contract origination and coordination activities of APM were all critical to the success of the project.

On an ongoing basis, APM will be providing scheduling and other services to the project as its energy flows into the Midwest ISO market from its location in the Central Iowa Power Cooperative (“CIPCO”) service territory.

“APM is pleased to have enabled the agreements and to offer continuing service to our cooperative clients,” said Eric Larson, APM Vice President of Origination. “I think the experience that we gained from this project will be invaluable to APM in coordinating and negotiating similar joint renewable projects in the future.”

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.