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January 15, 2009
Texas ISD Greens Portfolio at Discount, Secures 36-Month Fixed Price Contract
January 15, 2009, Burleson, TX and Worcester, MA – World Energy Solutions, Inc. (TSX: XWE), an operator of online exchanges for energy and green commodities, today announced Burleson Independent School District (ISD) conducted its first-ever electricity auction via the World Energy Exchange®. Burleson ISD awarded a 36-month contract to MidAmerican Energy Company for 38,300 Mwh of electricity, including 5 percent renewable power obtained at a discount to the generic 36-month fixed price.
The successful auction event attracted multiple suppliers who collectively tallied more than 50 bids. World Energy’s online process helped Burleson ISD effectively price the market and land an energy contract in keeping with its budget and green goals. The engagement with Burleson ISD builds on World Energy’s recent successes in Texas running energy procurement auctions for the Cities of Temple, Waco, Killeen and Pflugerville.
“Right now, with budgets tight in our community and across the State, securing an energy contract that is fiscally responsible is a top priority,” said Ronald Kuehler, Assistant Superintendent for Finance at Burleson ISD. “Using the World Energy Exchange instead of traditional procurement methods gave us an advantage we had never had before: visibility into the market across suppliers, contract lengths and energy mixes. This helped us buy the energy we needed, at a price we could afford, in a way that helps us live up to our commitment to the children of Burleson and the environment. In fact, while we had gone into the procurement process expecting to pay a premium for renewable energy, the competitive nature of the auction helped us obtain it at a discount.”
Added Phil Adams, President and COO of World Energy: “The power of online auctions to deliver buyers a real-time, competitive marketplace – one that helps them test the market, weigh their options and get the most for their dollar – represents a best practice in energy procurement. We applaud Burleson ISD for the results they achieved and are pleased to be bringing the benefits of online auctions to a growing number of Texas government entities.”
About World Energy Solutions, Inc.
World Energy (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 markets. 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.
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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