Auction results provide another example of World Energy's value to the
WORCESTER, MA, Nov. 12 /CNW/ - World Energy Solutions, Inc. (TSX: XWE),
the operator of leading online exchanges for energy and energy-related
products, announced that Detroit Edison, an operating unit of DTE Energy
(NYSE: DTE) has completed a successful web-based auction to meet capacity needs
for the summer of 2008.
Using the web-based World Energy Exchange, Detroit Edison was able to:
- Complete a web-based capacity auction in the Midwest ISO (MISO).
- Bring transparency into the capacity market in the MISO.
- Create a highly competitive marketplace that included numerous
- Examine different variables including a flexible RFP architecture and
robust price discovery modeling
- Realize significant market liquidity
Commentary & Quotes:
Christy Wicke, Manager-Operational Optimization, Detroit Edison
"One of our main objectives at Detroit Edison is to continuously
streamline all of our processes while always maintaining an unbiased and
transparent audit trail. The World Energy Exchange gave us the flexibility to
construct multiple variations of our product and maintain a high level of
integrity and separation within the process to assure our compliance
objectives. Their team was supportive and adaptive, and the World Energy
Exchange delivered a great result."
Philip V. Adams, President and COO, World Energy
"Working with World Energy, Detroit Edison was able to purchase capacity
in an environment which revealed competitive pricing in an efficient way. The
fact that Detroit Edison is the first to complete this type of auction within
the MISO shows their desire to continually innovate and find the best and most
beneficial means in purchasing capacity. The success of this auction also
contributes to the rapidly growing reputation of World Energy Exchange as an
increasingly valuable tool in the wholesale market."
For more detailed information regarding the World Energy Exchange, please
About World Energy Solutions, Inc.
World Energy operates leading online exchanges for energy and
energy-related products. Our proven approach provides market intelligence,
promotes liquidity, and creates price transparency for all market
participants, enabling our customers to transact with confidence and to seek
the best possible price. To date, the company has transacted over 40 billion
kWh of electricity, 700 million kWh of green power and Renewable Energy
Certificates (RECs) and one trillion cubic feet of natural gas. For more
information, please visit www.worldenergy.com.
About Detroit Edison
Detroit Edison is an investor-owned electric utility serving 2.2 million
customers in Southeastern Michigan and a subsidiary of DTE Energy (NYSE: DTE),
a Detroit-based diversified energy company involved in the development and
management of energy-related businesses and services nationwide. Information
about DTE Energy is available at www.dteenergy.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.
For further information:
For further information: Investor Relations: Phil Adams, World Energy
Solutions Inc., (508) 459-8100, firstname.lastname@example.org or Craig Armitage, The
Equicom Group, (416) 815-0700 x278, email@example.com; Media
Relations: Kyle Flaherty, Horn Group, (781) 356-7166, firstname.lastname@example.org