EXHIBIT 99.1

CONTACTS:

W. Phillip Marcum                          Philip Bourdillon/Eugene Heller
Chairman and CEO                           Silverman Heller Associates
303-416-9200                               310-208-2550



                METRETEK SHARES DELISTED FROM NASDAQ STOCK MARKET

                    -- To be traded on OTC Bulletin Board --

DENVER--OCTOBER 14, 2002--METRETEK TECHNOLOGIES, INC. (NASDAQ:MTEK) today
announced that the Nasdaq Listing Qualifications Panel has denied its request
for continued listing of its common stock despite its failure to comply with the
$1.00 minimum bid price requirement for continued listing on the Nasdaq SmallCap
Market, as set forth in Marketplace Rule 4310(c)(4). As a result, the Company's
common stock will be delisted from the Nasdaq SmallCap Market effective with the
opening of business on Tuesday, October 15, 2002.

The Company expects that its common stock will begin trading on the OTC Bulletin
Board under the symbol MTEK on Tuesday, October 15, 2002. The OTC Bulletin Board
is a regulated quotation service that displays real-time quotes, last-sale
prices, and volume information in over-the counter securities. Information
regarding the OTC Bulletin Board is available at www.otcbb.com.

Despite the delisting from the Nasdaq SmallCap Market, the Company will remain a
public reporting company under Securities and Exchange Commission rules. The
Company expects to reconsider its listing options in the future, based upon its
financial condition and stock price.

As previously reported, the Company received a Nasdaq Staff Determination letter
on August 14, 2002, that the Company failed to comply with the $1.00 minimum bid
price requirement for continued listing on the Nasdaq SmallCap Market. The Staff
Determination letter informed the Company that, due to such non-compliance, the
Company's common stock was subject to delisting from the Nasdaq SmallCap Market.
As permitted by Nasdaq rules, the Company requested a hearing before a Nasdaq
Listing Qualifications Panel to review the Staff Determination, which was held
on September 26, 2002. Although the Panel indicated continued listing might be
preserved if the Company promptly effected a reverse stock split resulting in
compliance with the $1.00 minimum bid price requirement, the Board of Directors
of the Company determined that proceeding with a reverse stock split to obtain
such compliance under present circumstances would not be in the best interests
of the Company and its stockholders.

W. Phillip Marcum, president and chief executive officer of the Company, stated:
"While we are obviously disappointed by the Panel's decision, we strongly
believe that the Company initiatives that we are undertaking, including the
restructuring of operations of Metretek Florida and the continued growth and
success of PowerSecure and Southern Flow, will soon start to show their effect
on the Company's performance. Our management team is strongly committed to
achieving growth and profitability, and we feel we are headed in the right
direction."




Metretek Technologies, Inc. through its subsidiaries -- PowerSecure, Inc.;
Metretek, Incorporated; and Southern Flow Companies, Inc. -- is a diversified
provider of energy technology products, services and data management systems to
industrial and commercial users and suppliers of natural gas and electricity.

All forward-looking statements contained in this release, including statements
concerning the potential effect on the Company's performance of initiatives
currently being undertaken, are made within the meaning of and pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are all statements other than statements of
historical facts, including statements concerning the plans, intentions,
expectations, projections, hopes, beliefs, objectives, goals and strategies of
management, such as statements about future earnings, revenues, and other future
financial and non-financial items, performance or events; statements about
proposed products, services, technologies or businesses; and statements of
assumptions underlying any of the foregoing. Forward-looking statements are not
guarantees of future performance or events and are subject to a number of known
and unknown risks, uncertainties and other factors that could cause actual
results to differ materially from those expressed, projected or implied by such
forward-looking statements. Important risks, uncertainties and other factors
include, but are not limited to, the Company's ability to develop and market the
products and services of PowerSecure; the ability of PowerSecure to complete the
distributed generation project mentioned in this release and deliver anticipated
benefits to the customer; the Company's ability to obtain sufficient capital and
liquidity on favorable terms, to meet its operating, working capital and debt
service requirements and to fund the growth of its business; the Company's
ability to attract, retain and motivate key personnel; the effects of
competition; changes in the energy industry in general and the natural gas and
electricity markets in particular; the ability of the Company to secure and
maintain key contracts and relationships; the effects of the resolution of
pending and future litigation and disputes; general economic, market and
business conditions; and other factors, risks, and uncertainties described from
time to time in the Company's reports and filings with the Securities and
Exchange Commission, including but not limited to the Company's most recent Form
10-KSB and Form 10-QSB and subsequently filed Forms 8-K. Accordingly, there can
be no assurance that the results expressed, projected or implied by any
forward-looking statements will be achieved, and readers are cautioned not to
place undue reliance on any forward-looking statements. The forward-looking
statements in this press release speak only as of the date hereof and are based
on the current plans, goals, objectives, strategies, intentions, expectations
and assumptions of, and the information currently available to, management. The
Company assumes no duty or obligation to update or revise any forward-looking
statements for any reason, whether as the result of changes in expectations, new
information, future events, conditions or circumstances or otherwise.



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