<PAGE>
Exhibit 99.2
[WM LOGO]
WATTAGE MONITOR
BUSINESS MODEL
PRESENTATION
SEPTEMBER, 2000
<PAGE>
[WM LOGO]
WATTAGE MONITOR
THE MARKET
- INDUSTRY LARGE - REVENUE = $200 BILLION
- FRAGMENTED - 3300+ ELECTRIC COMPANIES
- NO DOMINANT COMPANIES - LARGEST 5% OF NATIONAL
MARKET
- THEREFORE - CONSUMER HAS CONSIDERABLE MARKET POWER
- WM STRATEGY - ASSESS AND MEET CONSUMERS NEEDS
SUPPLIERS USE WM TO REACH CONSUMERS
<PAGE>
[WM LOGO]
WATTAGE MONITOR
THE MACRO MODEL
<TABLE>
<CAPTION>
TOTAL US
--------
<S> <C>
HOUSEHOLDS W/ CHOICE 107MM
% SWITCH 30%
% USE WM 20%
--------
SUBTOTAL 6MM ROUNDED
SHARE OF CUSTOMER ACQUISITION COST 50%
RESIDENTIAL REVENUE $600MM
FACTOR X2
TOTAL REVENUE $1.2B
COSTS $400MM
---------
MARGIN $800MM
</TABLE>
<PAGE>
[WM LOGO]
WATTAGE MONITOR
THE MICRO MODEL
<TABLE>
<CAPTION>
2001
----
BEGINNING ENDING
--------- ------
<S> <C> <C>
# SWITCH/WEEK 1000 2000
SHARE OF CAC 15% 20%
RESIDENTIAL REVENUE RATE (ANNUALIZED) $1.5MM $4.2MM
X2 FOR COMMERCIAL X2 X2
------ ------
TOTAL $3.0MM $8.4MM
EXPENDITURES $400/K MO. $4.8MM $4.8MM
</TABLE>
<PAGE>
[WM LOGO]
WATTAGE MONITOR
EARLY EXPERIENCE
ORIGINALLY RELEASED IN PENNSYLVANIA:
<TABLE>
<CAPTION>
<S> <C>
POPULATION 5 MILLION
TOTAL SWITCHED 375,000
ACCESSED SYSTEM 75,000
SWITCHED AFTER WM 60,000
</TABLE>
<PAGE>
[WM LOGO]
WATTAGE MONITOR
RECENT EXPERIENCE
- SAN DIEGO
- 1000 PEOPLE ACCESSING SYSTEM PER WEEK
- 100 CONVERTING PER WEEK
<PAGE>
[WM LOGO]
WATTAGE MONITOR
COMPETITIVE STRENGTHS
- ONLY WM HAS WEB LINKS WITH EVERY DEREGULATED STATE PUC
(EXCEPT NEW JERSEY)
- SWITCHING RELATIONSHIPS WITH 70-75% OF SUPPLIERS COMPETING
FOR CUSTOMERS
- PATENT POSITION
- ELECTRICEYE
- FIRST MOVER ADVANTAGE - TRADE ASSOCIATIONS, PORTALS
<PAGE>
[WM LOGO]
WATTAGE MONITOR
SUPPLIER RELATIONSHIPS
- DIRECT LINKS - CUSTOMERS CAN SWITCH ON-LINE
- PASSWORD-PROTECTED ACCESS TO WM BACK-END TO AMEND RATES ETC
- MARKET RESEARCH & TESTING
<PAGE>
[WM LOGO]
WATTAGE MONITOR
ELECTRICITY.COMS
- DIRECT SUPPLIERS
- UTILITY.COM
- ESSENTIAL.COM
- SMARTENERGY.COM
- GREENMOUNTAIN.COM
- ALL TRADITIONAL SUPPLIERS
- INFORMATION SITES
- ENERGYGUIDE.COM
- LOWERMYBILLS.COM
- PORTALS
- INFORMATION/SWITCHING SITES
- WATTAGEMONITOR.COM
<PAGE>
[WM LOGO]
WATTAGE MONITOR
FINANCIAL - SHARES
<TABLE>
<S> <C>
NO. OF SHARES OUTSTANDING 17,200,000 (FULLY DILUTED)
MAJOR SHAREHOLDERS (54% OF TOTAL)
- ROBERT LESSIN 3,490,000
- MANAGEMENT (SHARES) 1,723,000
- MANAGEMENT (OPTIONS) 442,000
- SALOMON SMITH BARNEY/CITIGROUP 2,217,000
- STEVE KLEIN 1,324,000
</TABLE>
<PAGE>
[WM LOGO]
WATTAGE MONITOR
THE TRANSACTION
- $10,000,000
- UNITS OF 3 SHARES & 1 WARRANT
- REGISTERED WITHIN 60 DAYS
- CLOSED BEFORE
- OCTOBER 8TH
- ADDITIONAL WARRANT IF REGISTRATION DELAYED
- WARRANT TERMS
- EXERCISE PRICE + 50%
- 5 YEAR EXPIRY
- UNDERLYING SHARES REGISTERED
- EXISTING SHAREHOLDERS COMMITMENT FOR $2.5 MILLION
- EXPECTED CLOSING OCTOBER 4TH
<PAGE>
[WM LOGO]
WATTAGE MONITOR
This document has been approved in the United Kingdom by Oakes, Fitzwilliams
& Co. Limited for purposes of Section 57 of the Financial Services Act of
1986. Oakes, Fitzwilliams & Co. Limited is regulated by The Securities and
Futures Authority Limited of the United Kingdom.
The Units will not be offered or sold by means of any document other than to
persons whose ordinary activities involve them in acquiring, holding,
managing or disposing of investments (as principal or agent) for the purposes
of their business or otherwise in circumstances which have not resulted and
will not result in an offer to the public in the United Kingdom within the
meaning of the Public Offers of Securities Regulations 1995, as amended by
the Public Offers of Securities (Amendment) Regulations 1999.
Oakes, Fitzwilliams & Co. Limited is acting for the Company in relation to
the Placing and for no other person and accordingly will not be responsible
to any other person for providing the protections afforded to its customers
or advising any other person in relation to the Placing.
Neither Oakes, Fitzwilliams & Co. Limited nor any of its employees,
affiliates, representatives or advisors makes any representation or warranty,
express or implied, as to the accuracy or completeness of any of the
information contained herein or of any written or oral communication
transmitted or made available to a prospective investor, and each of such
parties expressly disclaims any and all liability relating to or resulting
from the use of such information and communications by a prospective investor
or any of its affiliates, advisors or representatives.