During the volatile energy markets of the late 1990’s, several generation and transmission cooperatives envisioned the creation of a new energy marketing company. The purpose of this new energy marketing company would be to provide wholesale energy risk management services. The Alliance for Cooperative Energy Services, or ACES Power Marketing (APM), is the direct result of the dedicated efforts of these forward thinking energy cooperatives. Since its formation in February 1999, APM has become a nationally recognized wholesale energy trading and risk management firm that has maintained its customer oriented focus of providing quality service. Today, APM is one of the largest physical electricity traders in the nation. Although APM was originally created by and for cooperatives, its energy risk management services are applicable and will provide value for a broad range of customers, including Independent Power Producers, Investor-Owned Utilities, Merchant Energy Firms, Municipal Power Utilities, and other energy industry participants.