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July 16, 2009
(Hartford, CT) The Capitol Region Council of Governments conducted a reverse auction for its CRCOG Electricity Consortium on July 14, 2009 with an estimated savings of over $400,000 for its members over a two year contract term. Over 41 million kWh were auctioned for 14 municipalities, boards of education, and agencies participating in the first reverse auction for this consortium conducted by CRCOG consultant World Energy Solutions, Inc. (NASDAQ: XWES).
A Capitol Region Purchasing Council program, the CRCOG Electricity Consortium, created pricing groups with various green power requirements (7% for ten of the members and 20% for the remaining four who are 20% by 2010 communities). Savings estimates were based on average current market pricing prepared by World Energy for fair market value of the consortium’s load profiles. Current utility rates are even higher and a price comparison would reflect even greater savings.
“This auction has paid tremendous dividends to the members who volunteered to participate in the Consortium,” said Lyle Wray, Executive Director of the Capitol Region Council of Governments. “We are thrilled that this innovative procurement tool held true to its reputation of providing exceptional savings for energy commodities.”
Capitol Region Purchasing Council members who participated in this auction included: CRCOG, the Eastern CT Health Network, the Greater Hartford Transit District, Town of Bloomfield, Town of Bolton, Town of Bolton BOE, Town of Canton, Town of Canton BOE, Town of Darien/BOE/Library, Town of East Granby, Town of Newington, Town of North Branford, Town of Plymouth, Town of Wethersfield, and the Wethersfield BOE.
About World Energy Solutions, Inc.
World Energy (NASDAQ: XWES; TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas, capacity, and green-energy assets who are impacted by today’s volatile markets, World Energy’s proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to enabling customers to seek competitive pricing on traditional energy commodities, World Energy is taking a leadership position in the emerging environmental-commodities market. Its award-winning World Green Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative’s (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.
About the Capitol Region Council of Governments
The Capitol Region Council of Governments (CRCOG) is a Regional Planning Organization in the Capitol Region consisting of 29 cities and towns. CRCOG is guided by the chief elected officials of the Capitol Region municipalities. The Capitol Region Purchasing Council (CRPC) is a cooperative purchasing program which operates under the auspices of CRCOG and currently has 81 members throughout the State of Connecticut. For more information, please visit www.crcog.org.
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