SOURCE: World Energy Solutions

World Energy Solutions

April 26, 2011 08:01 ET

Alexian Brothers Health System Goes Green, Saves Big With World Energy Solutions

Chicago Hospital Network Pushes Its Renewable Energy Commitment Beyond State Requirements While Saving Millions on Electricity Costs

ARLINGTON HEIGHTS, IL and WORCESTER, MA--(Marketwire - Apr 26, 2011) - World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has helped Alexian Brothers Health System (ABHS), a diversified Catholic healthcare system, successfully procure electricity and renewable power for its four Chicago-area hospitals. Through a series of competitive auctions run on the World Energy Exchange®, World Energy enabled ABHS to lock in attractive rates through November 30, 2013, providing the healthcare system more than $1 million in annualized savings over its prior energy contract.

ABHS achieved these savings as part of the reverse auction component of the Premier healthcare alliance's SPHERE collaborative. The large-scale, Web-based electronic reverse auction for energy is led by Practice Greenhealth's Healthcare Clean Energy Exchange (PGH/HCEE) and conducted by its partner, World Energy Solutions. The goal of the auction process is to help hospitals purchase energy more effectively and efficiently.

In all, 10 suppliers participated in the auctions, placing over 150 bids for various energy products and term-lengths, which provided excellent price discovery. ABHS leveraged these competitive dynamics to save money, gain budget certainty, and exceed state renewable portfolio standards (RPS) requirements by an additional 15 percent for its more than 60 million kWh load, significantly advancing its sustainability goals. With its renewable energy purchase, ABHS will reduce its carbon dioxide emissions by more than 6,400 metric tons each year, a reduction equivalent to each of the following:

  • Removing 1,236 passenger vehicles from the road each year
  • Reducing demand for 15,031 barrels of oil each year
  • Reducing the need for 33.8 railcars worth of coal each year
  • Reducing the equivalent demand of "brown energy" to power 784 homes each year

(Source: EPA Greenhouse Gas Equivalencies Calculator)

"The reverse auction program through World Energy allowed Alexian Brothers Health System to consolidate, centralize and simplify a complex electrical energy procurement process," said Patrick Trim, Vice President and Chief Logistics Officer at Alexian Brothers Health System. "This initiative not only afforded Alexian Brothers the opportunity to utilize renewable energy, but also provided us with the ability to greatly reduce our electric costs."

Added Phil Adams, President, World Energy Solutions: "Hospitals and healthcare systems around the country have reaped tens of millions of dollars in savings and a wealth of other benefits, including the greening of their energy portfolios, by allowing World Energy to put the power of competitive markets to work on their behalf. With energy remaining a 10-figure annual spend in the healthcare sector, the need to approach energy management more strategically, and with the same vigor applied to other cost centers, is of paramount importance. In growing numbers, hospital networks like Alexian Brothers Health System are showing their peers just how important."

About Alexian Brothers Health System
The Alexian Brothers Health System (ABHS) is a diversified Catholic healthcare organization headquartered in Arlington Heights, Illinois. Governed by the 800 year-old Congregation of Alexian Brothers, ABHS oversees the operations of senior care facilities and programs, acute care and specialty hospitals, rehabilitation services, physician services, clinics and community-based programming in Illinois, Missouri, Tennessee and Wisconsin.

About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the ground-breaking Regional Greenhouse 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 the following: our revenue and backlog are 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; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.

Contact Information

  • For additional information, contact:

    Dan Mees
    World Energy Solutions, Inc.
    (508) 459-8156
    Email Contact

    Erika Moran
    The Investor Relations Group
    (212) 825-3210
    Email Contact