First Electricity Portal Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 29, 2001-- -- Total transaction volume for this portal is estimated to be above Euro 30 billion. -- Endesa and Iberdrola are the Spanish partners in this initiative -- Eutilia will be headquartered in the Dutch city of Leiden. A group of eleven of Europe's leading utilities have signed an agreement in order to set up Eutilia, an independent portal which will enable the procurement of supplies through the Internet. This portal will be headquartered in the Dutch city of Leiden and will be operational this spring. Its activities will be focused on purchases by catalogue, auctions and information and services related to purchase management. Annual volume of purchases by the founding partners, including capital expenditures and excluding labour and energy is estimated to be greater than Euro 30 billion. Eutilia will offer value-added services both to buyers and sellers and will enable a reduction in procurement costs. Initially its activities will be focused on electricity and water utilities. The founding partners of Eutilia are Scottish Power (UK), Endesa (Spain), EDF (France), RWE (Germany), Enel (Italy), Iberdrola (Spain), Electrabel (Belgium), United Utilities (UK), Vattenfall (Sweden), National Grid Company (UK) and Nuon (Netherlands). ENDESA will channel its investment through its 100% affiliate Endesa Net Factory.
Eleven Leading European Utilities Set Up Eutilia, Europe's