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SoftSmiths adds Fuel Cost Accounting to its e-Merchant product suite

Houston, TX. – June 28, 2002 – Today, SoftSmiths announced the availability of a new Fuel Cost Accounting application for its e-Merchant product suite, providing an integrated solution designed to capture designated expenditures on fuel used to power the generation facilities. SoftSmiths delivers critical e-Business solutions and services that enable energy industry participants to enhance profitability and reliability in the competitive marketplace.

The Fuel Cost Accounting module allocates the cost of resources used to service wholesale and retail transactions on an hourly basis. The module is fully integrated with the e-Merchant product suite, leveraging the capabilities of the suite to facilitate understanding of the costs of producing and delivering energy services in addition to enabling Load Serving Entities to satisfy regulatory requirements for reporting fuel costs. Improved understanding of these costs will lead to better return on investment and a more sustainable business in the competitive market.

"We needed a tool that would help us automate existing manual processes, improve accuracy and consistency while meeting audit requirements to determine if fuel costs are properly identified and recorded. SoftSmiths' Fuel Cost Accounting module will improve our understanding of costs, and streamline our accounting process, enabling us to better manage and track changes in the cost of fuel and purchased energy, and thereby provide for proper recovery of our fuel costs.", said Jim Sadtler, Manager Energy Services at Indianapolis Power & Light Company.

e-Merchant is a toolbox for Purchasing/Selling Entities whose market strategy may focus on high-volume hub trading, buying and selling of physical assets or a combination of both. SoftSmiths' e-Merchant suite offers a flexible, scalable business technology solution - seamlessly integrating Trading, Portfolio Assessment, Resource Management, Scheduling, Risk Measurement, Accounting and Reporting.

About SoftSmiths

SoftSmiths is a leading provider of proven business critical Transaction Management Systems and services to the energy industry. SoftSmiths' seamlessly integrated and scalable products are designed to address increased customer and transaction volumes and yield increased operational efficiencies, thereby enabling its customers to profitably operate in the competitive marketplace. SoftSmiths' highly differentiated position in the market is a result of its in-depth knowledge of the industry’s business practices, having the broadest product development strategy and using its intellectual property and consulting service to meet its customer’s competitive business requirements. The company has been successfully delivering e-business solutions to energy service companies since 1997.

SoftSmiths is a registered trademark of SoftSmiths, Inc.

Contact Information:

Softsmiths Inc.
Hugo Stappers
Phone:    713.626.9184
Fax:          713.626.0186

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