UtiliPoint International and Global Change Associates
Launch New Energy Hedge Fund Web Community

Houston , Texas November 21st, 2004 . UtiliPoint International, Inc. (UtiliPoint), the utility and energy industry thought leader, and Global Change Associates Inc., the premier international energy and environmental risk management consulting firm, today announced that the two firms have launched a new web community ( ) in support of their ongoing energy hedge fund research and service offerings.

Following the completion of their multi-client study, ‘Hedge Funds Enter the Energy Trading Space,' the two firms have successfully launched the Energy Hedge Fund Directory and undertaken several, heavily subscribed online seminars on hedge fund activities in the energy industry. The online community is designed to provide a facility to share articles and information on energy hedge funds and provide a vehicle for further research and analysis.

“We are now seeing a fundamental change in the structure of energy trading through the activities of hedge funds, investment banks and multinational oil companies,” said Mr. Peter Fusaro, Chairman of New York-based Global Change Associate Incs. “This new ‘triangle of energy trading' is accelerating financialization of these important markets.”

“Our research has demonstrated that hedge funds are active across all aspects of energy today,” reports Dr. Gary M. Vasey, VP Trading & Risk Management Practice, UtiliPoint International, Inc. “We have documented more than 250 hedge funds active in energy in our directory and expect to add many more over the coming months as our research continues. They are active not only in energy commodity trading but energy equities, distressed assets, renewable energy, and oil & gas reserves.”

The energy hedge fund directory can be purchased at the new website . Interested parties should contact either Dr. Gary M. Vasey at 281 681 8020 or by email at [email protected] or Peter Fusaro at 212-316-0223 or via email, [email protected]

About UtiliPoint International, Inc.

With origins dating to 1933, UtiliPoint International, Inc. is a leader in providing research-based consulting to the utility industry. UtiliPoint analysts have provided strategic business plans and studies on information technology, and its impact on utility operations. Direct experiences include work in trading/risk management, outsourcing, CIS, billing, CRM, metering, AMR, demand response, work/outage management, supply chain, ERP, call centers, rates/pricing products, and IT architectural design. The firm is also the publisher of IssueAlert™, an analysis of the utility and energy industry's hot topics sent to over 34,000 utility and energy executives daily.

About Global Change Associates

Global Change Associates, based in New York (, is a leading consultancy in energy and environmental commodity risk management. GCA is at the forefront of revealing changes in energy trading and risk management, and has been the market leader in energy trading, energy e-commerce, and Enron competitive analysis studies. Company chairman, Peter Fusaro, has authored nine books on energy and environmental trading and will soon release Energy Hedging in Asia (MacMillan), and Green Trading Markets: The Next Wave (2005). The company holds the annual Green Trading Summit ( in New York City in May 2005.