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September 24, 2008
WHAT: Tomorrow, the states participating in the Regional Greenhouse Gas Initiative (RGGI) will lead the United States in taking a historic step forward in cutting greenhouse gas emissions and redducing their impact on the environment. World Energy, a pioneer in the green commodities market, will administer the first-in-U.S.-history carbon dioxide cap-and-trade auction on behalf of RGGI, Inc...
WHO: World Energy (TSX: XWE) has emerged as both a front-runner and market maker in the carbon credit markets and was selected by RGGI, Inc. to run this historic greenhouse gas reduction auction. The ten participating states, Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont, have cooperatively developed the first mandatory, market-based CO2 emissions reduction program in the United States. RGGI, Inc. is a nonprofit corporation created to provide technical and administrative services to the Regional Greenhouse Gas Initiative CO2 budget trading programs of the participating states. (www.rggi.org).
WHEN: Thursday, September 25, 2008
9:00 a.m. – 12:00 p.m. Eastern Time
WHY: With industry experts projecting the total global carbon market to exceed $1 trillion by 2020, it is critical that the United States be on the forefront of market-based reductions in greenhouse gas emissions. RGGI represents a clear and decisive step in this direction and may serve as an example for future regional and national greenhouse gas reduction programs. Companies like World Energy are acting as catalysts in this fast-growing market by creating efficient, transparent and trusted marketplaces for trading green energy and commodities.
About World Energy
World Energy (TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas and green energy assets who are impacted by today’s highly volatile energy markets, World Energy’s proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to helping its customers obtain favorable pricing on traditional energy commodities, World Energy is taking an active role in creating the green commodities markets. To date, the company has transacted nearly 1 billion kWh of green power and Renewable Energy Certificates (RECs), and its trading platform powers the ground-breaking Regional Green House Gas Initiative’s (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: our revenue is dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; we depend on a small number of key energy consumers, suppliers and channel partners; there are factors outside our control that affect transaction volume in the electricity market; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
SOURCE World Energy Solutions, Inc.
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