WORCESTER, MA, Oct. 6 /CNW/ - World Energy Solutions, Inc. (TSX: XWE)
today announced Vectren Energy Delivery of Ohio (Vectren) successfully
conducted a natural gas auction for its Standard Sales Offer (SSO) on the
World Energy Exchange.
The auction resulted in a retail price adjustment of $2.35 per thousand
cubic feet (Mcf), which will be in effect from October 1, 2008 through March
31, 2010. Auction results were approved by the Public Utilities Commission of
Ohio (PUCO) within 24 hours.
In a previously released statement, PUCO Chairman Alan R. Schriber
stated: "We are pleased with the results of this auction. We believe customers
in Vectren's service territory will see a savings on the natural gas commodity
price." (The full statement can be read at
Vectren conducted the August 19, 2008 auction to enable interested
suppliers to compete for the right to provide natural gas supply for its
choice-eligible sales customers. Vectren's choice program gives customers the
option of purchasing their natural gas from a supplier other than Vectren,
with Vectren retaining all delivery, billing and services responsibilities for
"Working with World Energy was a very smooth process," said Scott
Albertson, Director of Regulatory Affairs at Vectren Energy Delivery of Ohio.
"We were impressed with the efficiency of the auction, the price transparency
it provided, and the results it yielded."
Added Phil Adams, President, World Energy: "We are pleased to be working
with Vectren and glad our results will potentially benefit Vectren's
customers. World Energy is once again proving the power of its online exchange
in the wholesale energy markets, bringing together bidders and delivering
competitive prices to help our customers meet their strategic goals."
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 and green
energy assets who are impacted by today's highly volatile energy markets,
World Energy's proven approach has transformed the normally complex
procurement process into a powerful, streamlined vehicle for cost savings. In
addition to helping its customers obtain favorable pricing on traditional
energy commodities, World Energy is taking an active role in creating the
green commodities markets. To date, the company has transacted nearly 1
billion kWh of green power and Renewable Energy Certificates (RECs), and its
trading platform powers the ground-breaking Regional Green House 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.
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: Dan Mees, World Energy Solutions, Inc., (508) 459-8156,