Business Services Industry
Norsk Hydro pleased with cheap energy web site
Internet Business News, April, 2000
INTERNET BUSINESS NEWS-(C)1995-2000 M2 COMMUNICATIONS LTD
Norsk Hydro ASA has reported that the introduction of its web site 'BuyEnergyHere' has been a resounding success since its introduction on 12 April.
The site was launched with the aim of helping Norsk Hydro and other energy consumers to access cheap electricity through online shopping. The response so far has apparently been very positive, with 15 power producers signing up at the site by 15 April and the first deal signed on 17 April according to Dow Jones - and all that with the company not yet having launched its publicity campaign.
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The web site uses an auction system that allows electricity consumers to post their requirements and terms and different power producers to then submit bids for the business - with the successful bidder chosen by the consumer.
The site is currently undergoing testing in the Nordic market and Norsk Hydro apparently intends to expand the service to Germany, the Netherlands and the UK.
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