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April 22, 2009
Online Auctions Give School System the Edge in Securing New Electricity Contracts
Toms River, NJ and Worcester, MA – April 22, 2009 – Demonstrating the power of online energy procurement, World Energy Solutions, Inc. (TSX: XWE), an operator of online exchanges for energy and green commodities, today announced Toms River Regional Schools (TRRS) has successfully executed new electricity contracts through the World Energy Exchange®. By providing market intelligence, attracting multiple suppliers and running a series of competitive online auctions, World Energy helped TRRS beat the utility rate, securing over $250,000 in first year savings and budget certainty.
World Energy conducted the electricity auctions on April 7, 2009, providing TRRS price discovery for numerous scenarios, including various term lengths, meter groupings and mixes of green and traditional energy. Two suppliers were awarded contracts for 24 months for May 2009 delivery.
“At Toms River Regional Schools, we are always striving to deliver the best value to our constituents, the taxpayers of Toms River and the children of this community,” said Michael J. Ritacco, Superintendent of Schools, TRRS. “Engaging with World Energy has helped us fulfill this commitment, providing us a 21st century process for securing electricity contracts at rates we can take to the bank and that provide us valuable budget certainty. With more than a quarter million dollars in first year savings alone, I can’t tell you how happy I am we teamed with the professionals at World Energy on this strategic procurement.”
Added Phil Adams, President and COO of World Energy: “Kudos to Toms River Regional Schools for treating energy as a strategic asset rather than as an inevitable cost. By working with World Energy, TRRS took proactive measures to secure electricity contracts that were right for them. Their efforts have resulted in major savings for their schools and provide a great example to other institutions of the power of online energy procurement.”
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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