Midwest ISO Selects TenFold to Automate Wholesale Energy Billing
5 June 2000
Midwest ISO Selects TenFold to Automate Wholesale Energy Billing
Leading Transmission Operator to Use SettlementNow! Product
For Power and Transmission Billing Over the Internet
SALT LAKE CITY, June 5 TenFold Corporation ,
a leading provider of large-scale e-business applications, today announced
that the Indiana-based Midwest Independent Transmission System Operator (MISO)
selected SettlementNow!, a billing and settlement system for wholesale
customers who purchase power capacity, energy and transmission services.
TenFold is partnering with ALSTOM ESCA Corporation, Perot Systems Corporation,
and Open Access Technology International Inc. to deliver an integrated control
center system for MISO. MISO is the nation's largest independent transmission
system operator, controlling approximately $8 billion in assets across 14
states.
MISO will use SettlementNow! to automate the complete billing cycle for
transmission billing. Using SettlementNow!, MISO will be able to generate
customized invoices based on specific customer preferences and data. Their
customers will have Internet access to the application to view the details of
their invoices and analyze usage trends.
"Deregulation is accelerating change in our industry and is making our
contracts more complex," said Michael J. Gahagan, chief information officer at
MISO. "SettlementNow! is a great product that will give us the ability to
manage intricate contracts and the flexibility to respond to changing customer
requirements without re-programming."
With SettlementNow!, MISO will be able to define business rules to control
sources of data, the complex calculations of each customer's bill, and the
presentation of billing data to each customer.
"Our involvement with MISO demonstrates TenFold's ability to deliver
dynamic applications products that rapidly adapt to new and changing markets,"
said Don Jefferis, president of TenFold Energy, Inc. "We're pleased to be the
best-of-breed selection for a leading regional transmission operator like MISO
who is pioneering a new model for energy transmission in the Midwest."
About Midwest ISO (MISO)
MISO is the nation's largest independent transmission system operator.
Utilities with more than 52,000 miles of transmission lines, 78,000 megawatts
of electric generation, and about $8 billion in installed assets are
participating in the MISO. The transmission owners who have signed the MISO
agreement are Allegheny Energy, Alliant Energy, Ameren, CILCO, Cinergy,
Commonwealth Edison, Hoosier Energy Rural Electric Cooperative, Illinois
Power, LG&E Corporation, Northern States Power, Southern Illinois Power
Cooperative, Southern Indiana Gas & Electric, Wabash Valley Power Association
and Wisconsin Electric.
About TenFold Energy, Inc.
TenFold Energy, Inc., a subsidiary of TenFold, builds and implements
dynamic energy applications that help businesses quickly enter or adapt to
changing markets, mitigate risk while maximizing assets, and reduce total cost
of ownership. TenFold is currently developing the EnergyNow! suite of
applications for energy trading, market data management, multi-commodity
logistics management, and energy billing. TenFold is also developing
SettlementNow!, a billing and settlement system for wholesale customers who
purchase power capacity, energy and transmission services.
About TenFold
TenFold Corporation is a leading provider of large-scale e-
business applications for customers in banking, communications, energy,
healthcare, insurance, investment management and other industries. TenFold
delivers dynamic packaged applications that meet customers' needs in rapidly
changing business environments, and that are flexible to adapt to changing
needs over time. Using its patented Universal Application(TM), TenFold
delivers applications remarkably fast, and for a fixed time and fixed price.
TenFold offers the TenFold Guarantee, the industry's first money-back
guarantee for delivering large-scale software applications on target, on time,
and on budget. For more information, call (800) TENFOLD or visit
http://www.10fold.com.
This release contains forward-looking statements that involve risks and
uncertainties that may cause actual future events or results to differ
materially from those described in the forward-looking statements. The
forward-looking statements in this release address a variety of subjects,
including for example, successful completion and implementation of the product
identified above, and MISO's fulfillment of various responsibilities. TenFold
disclaims any intention or obligation to revise any forward-looking statements
whether as a result of new information, future developments or otherwise. The
following factors, among others, could cause actual results to differ
materially from those contained in the forward-looking statements: risks
associated with new product functionality and timing of new product releases,
integration of acquired businesses, competitive factors, limited operating
history, attraction and retention of employees, variability of quarterly
operating results, dependence on a small number of customers, fixed-time,
fixed-price contracts, and protection of intellectual property. Additional
information concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is contained from time
to time in documents filed by TenFold Corporation with the Securities and
Exchange Commission, including but not limited to, the most recent reports on
Form 10-Q, 10-K, and S-1.