2009 and 2012 Vintages Sold, Raising More than $104 Million for Green
WORCESTER, MA, June 23 /CNW/ - World Energy Solutions, Inc. (NASDAQ:
XWES; TSX: XWE), an operator of online exchanges for energy and green
commodities, today announced it successfully supported the fourth carbon
allowances auction administered by Regional Greenhouse Gas Initiative, Inc.
(RGGI, Inc.) on June 17, 2009.
According to the RGGI independent market monitor, all 30,887,620
allowances for the 2009 vintage were sold at a clearing price of $3.23 per
allowance. In a parallel offering, the RGGI states also auctioned allowances
for the second three-year control period beginning January 1, 2012. The
2,172,540 allowances for the 2012 vintage cleared at a price of $2.06 per
allowance. In total, the fourth RGGI auction netted $104.2 million for energy
efficiency, renewable energy and other programs that benefit energy consumers
and create green jobs.
In a previously released statement, Pete Grannis, Chair of the Regional
Greenhouse Gas Initiative, Inc. Board of Directors, said: "RGGI's reliable
auction process continues to set an example for the nation. RGGI proves that
auction-based cap-and-trade works, and can lead us to a new economy with green
jobs, a clean energy infrastructure and a better environment." (The complete
RGGI, Inc. news release can be read at:
Added Richard Domaleski, CEO of World Energy: "World Energy is extremely
proud to provide the auction technology and services that help support the
RGGI programs' success.
"Whether an eventual U.S. cap and trade program involves the auctioning
of 1% or 100% of its allowances, the need for an auction infrastructure
remains the same. Having transacted over 110 million primary RGGI allowances
over the course of four very successful auction events, World Energy has
clearly demonstrated the scalability and reliability of our online platform.
Our success supporting RGGI, Inc.'s exceptional execution of these auctions
has helped establish World Energy as a leader in global cap and trade
technology and innovation."
About World Energy Solutions, Inc.
World Energy (NASDAQ: XWES; 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(R) supports the ground-breaking Regional Greenhouse Gas Initiative's
(RGGI) cap and trade program for CO(2) emissions. For more information, please
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, Dan Mees, World Energy Solutions, Inc., (508) 459-8156,