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January 14, 1999
- For Immediate Release
New York, NY - Caminus LLC, the leading provider of
strategic software solutions and consulting services for the energy market
today announced record license revenues, total revenues and operating
profit for the fourth quarter and fiscal year 1998.
Compared to 1997, fourth quarter license revenues increased 123%, total
revenues increased 72%, and operating profits increased 57%. For fiscal
year 1998, license revenues increased 133%, total revenues increased 55%,
and operating profit increased 44%.
A record seven North American energy enterprises licensed Caminus' market
leading ZAI*NET Software energy trading, risk management and scheduling
system during the fourth quarter. New clients include DukeSolutions, a
leading provider of integrated energy solutions in North America and a
subsidiary of Duke Energy; Wisconsin Electric Power, a subsidiary of Wisconsin
Energy and the largest investor-owned utility in Wisconsin; New Jersey
Resources, the parent company of New Jersey Natural Gas Company and New
Jersey Natural Energy Company; Merchant Energy Group of the Americas,
a Maryland based wholly-owned subsidiary of Gener S.A. and Gener Argentina
focusing on wholesale energy services in the U.S. and Canada, Metropolitan
Edison (GPU), a subsidiary of GPU which domestically includes a group
of electric utilities serving customers in Pennsylvania and New Jersey;
Arizona Public Service, Arizona's largest electric utility; and British
Columbia Power Exchange Authority (Powerex), BC Hydro's power marketing
subsidiary.
The company continued to strengthen its leadership position in the European
market with ZAI*NET commitments from Shell Gas Direct, the UK based natural
gas supply and shipping arm of Shell; Electrabel, the leading Belgium
electric utility; and Preussen Elektra, the second largest German utility.
Other leading energy enterprises recently began production use of ZAI*NET
including American Electric Power, one of the United States' largest investor-owned
utilities; New Energy Ventures, America's largest energy service provider;
Wisvest, a subsidiary of Wisconsin Energy and a marketer of natural gas
and electricity; and Ipswich, UK based Eastern Power & Energy Trading,
one of the leading European integrated energy companies.
Additionally, the company's European strategic consulting practice, formerly
Caminus Energy Ltd., Cambridge, UK, has been appointed the principal economic
advisers to the UK energy regulator. The assignment's focus is the implementation
of new electricity trading arrangements. This followed work carried out
by Caminus during the first half of 1998 on developing the initial proposals
for radical changes to the UK Electricity Pool.
"We established Caminus to exclusively address the growing, unmet needs
of participants in increasingly competitive energy markets worldwide,"
explains David Stoner, Caminus LLC CEO. "Until now they have lacked the
software and analysis to face volatile markets, growing portfolio risks,
and challenging financial and operating decisions. No other company offers
the energy industry as strong a set of solutions in both software and
high end strategic consulting services as Caminus."
Caminus is a private company founded in May 1998, resulting from the acquisitions
of ZAI*NET Software L.P., Caminus Energy Ltd., and Positron Energy Consulting.
Headquartered in New York with offices in Houston, London, and Cambridge,
UK, the company addresses the challenges facing participants in the global
energy market by providing an extensive suite of industry leading software
solutions and comprehensive consulting services.
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