World Energy Bags Electricity for One of the Nation’s Top Grocers

Secures one-year contract for grocer in NYC - assuring savings and budget predictability

May 6, 2003 - World Energy recently facilitated the electricity procurements for 28 grocery stores in New York City, signing its client to a one-year fixed-price contract.

Using the power of their industry-leading reverse auction platform, World Energy was able to reduce the final price its client received over 18% from the first reasonable bid to the final bid. On over 80 million kWh, this pricing translates to over $1.6mm in reduced costs realized from the auction process.

“The profit margins in the grocery business are notorious for being razor thin - we look hard at all of our costs. The reductions we received through World Energy will drop right to our bottom line. ” said Steven Castracane, Energy Manager.

“World Energy is rapidly becoming the only game in town,” continued Mr. Castracane. “Their focus on what’s best for the customer has earned them a great reputation in the New York market. The reverse auction process really shows how World Energy can really drive down the prices for the customer. When you see them written up in the Wall Street Journal and the NY Times business section, you know you’re with a winner.”

“Having a marquee customer so pleased with the results we deliver is extremely satisfying. Additionally, Steve is a savvy buyer that can marry his company’s needs and market forces to secure the most attractive deal possible. Using World Energy Solutions as a procurement tool allows Steve to maximize his own energy knowledge to the benefit of his facilities. Working with a sophisticated energy professional like Steve makes our job a pleasure. We look forward to working with Steve and his company in other deregulated markets,” said Richard Domaleski, President, World Energy Solutions.