Dallas/Fort Worth International Airport purchases its annual
natural gas supply via the World Energy Exchange.
WORCESTER, MA, June 18 /CNW/ - World Energy Solutions, Inc. (TSX: XWE),
the operator of leading online exchanges for energy and energy-related
products, today announced that Dallas/Fort Worth International Airport (DFW)
has become the latest public agency, and one of the first in Texas, to
purchase natural gas supply via the World Energy Exchange online auction
In an auction held on May 22, 2007 DFW received pricing for 389,900
million BTUs of natural gas for use in heating the 6.9 million square feet of
passenger terminals and hotels - about 15 percent of its annual energy
requirements. Immediately following completion of the online reverse auction,
DFW awarded a 12-month supply contract valued at $3.38 million to NGTS, LP of
Dallas. Natural gas supply under the contract will begin flowing October 1,
Historically, DFW purchased energy supply through a paper-based request
for proposal (RFP) and sealed bid method, according to Rusty Hodapp, DFW's
vice president of energy and transportation management.
Hodapp said, "Our traditional procurement method only afforded the
prospective supplier one opportunity to provide a competitive price, and they
were blind to the other offers we were receiving. The online reverse auction
provided the suppliers a two and a half hour window of opportunity to evaluate
their position in the market and submit pricing offers, and at the same time
and in real time, they could observe their competitors' offers as they were
being made. We feel the transparency of the online reverse auction format is
its most valuable feature."
"The online auction exceeded the airport's expectations and will net a
savings of approximately $70,000 when compared to our current contract. We are
now evaluating the use of online reverse auctions for future energy
purchases," said Hodapp.
Phil Adams, World Energy COO, said, "World Energy Exchange's online
reverse auction tool, coupled with our market intelligence and ability to
deliver real time price transparency through sophisticated RFP structuring,
streamlines the supply procurement process. At the same time, it creates real
cost savings by inducing competition among suppliers that drives prices down
to real market levels for organizations like DFW.
"We are excited by the trust and confidence placed in us by one of the
busiest airports in North America, and are pleased to have once again
delivered a satisfactory result for a high profile customer and one of our
over 250 suppliers," said Adams.
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 brokered over 32 billion kwh
of electricity, 500 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.
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, email@example.com or Craig Armitage, The
Equicom Group, (416) 815-0700 x278, firstname.lastname@example.org; Media
Relations - Ginger Juhl, Juhl Communications, (720) 200-4082,