Utilities hub streamlines corporate procurement

A new internet exchange is to launch his month which aims to take the complexity out of corporate purchasing for utilities.

Called Utilyx, the internet hub will launch its first services - the online procurement of electricity - on 17 July. It claims it will then phase in equivalent services for gas, water and telecoms by the end of the year.

Although other internet sites allow people to purchase utilities online, Utilyx claims the billing analysis its site provides, which will enable users to find which supplier suits them best, will set its service apart.

The company says it will target its service at customers who spend more than £1m a year on utilities.

Utilyx has been formed using £3m of investment funding, and hopes to expand on to the continent. Chris Bowden, CEO, said he expects the company to have up to 100 customers by the end of the year.

Bowden added: "We have worked closely with a number of large utility buyers to design our platform around they way they do business. The real added value we can give is in letting our users understand how they use utilities, to enable them to make more intelligent purchases."