PORTSMOUTH, NHHoustonStreet Exchange has signed a memorandum of understanding with Enron. Under the arrangement, North American electricity and natural gas prices posted on EnronOnline will automatically be posted on HoustonStreet.com. Traders will be able to act on the EnronOnline prices via either platform. The addition of EnronOnline pricing will correspond with the launch of HoustonStreet’s natural gas platform in September.
This link between HoustonStreet and Enron is expected to accelerate the development of the rapidly evolving online energy trading market. In mid-May HoustonStreet, the first fully Web-based energy trading portal, announced the successful launch of new trading platforms for electricity, crude oil and refined products. The combination of Enron’s liquidity and HoustonStreet’s trading platforms and existing strategic relationships with Conoco, Equiva (the U.S. trading arm for Shell, Texaco and Saudi Aramco), Sithe Energies Inc., Williams and Vivendi will provide energy traders with the trading functionality they want the competitive markets they need.
“Enron’s goal is to continue increasing liquidity in natural gas and electricity markets,” said Louise Kitchen, EnronOnline president and COO. “By extending our pricing to HoustonStreet, more potential buyers and sellers will be able to transact with Enron.”