SOURCE: World Energy Solutions

September 13, 2010 14:19 ET

World Energy Continues Successful Support of RGGI Program

Ninth RGGI CO2 Allowance Auction Puts Total Program Proceeds Above $700 M

WORCESTER, MA--(Marketwire - September 13, 2010) -  World Energy Solutions, Inc. (NASDAQ: XWES) (TSX: XWE), a leading energy management services firm, today announced it has successfully supported the third quarterly auction of carbon dioxide (CO2) allowances in 2010, and ninth overall, administered by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on September 8, 2010.

According to RGGI, Inc., CO2 allowances for the first three-year control period (2009-2011) offered in last Wednesday's auction sold at $1.86 per allowance; CO2 allowances for the second control period (2012-2014) also sold at $1.86 per allowance. Since September 2008, proceeds from RGGI auctions have totaled $729,281,959, over 80 percent of which is being invested in strategic energy programs to benefit consumers and build a clean energy economy.

In a previously released statement, David Littell, a Commissioner of the Maine Public Utilities Commission and Chair of the RGGI, Inc. Board of Directors, said: "RGGI auctions continue to set an example for the nation. Nine successful CO2 auctions have delivered allowances to the power plants that need them for compliance and enabled states to return millions of dollars to consumers through investments in energy savings and clean energy."

Added Richard Domaleski, CEO of World Energy: "As we enter our third year of conducting auctions with RGGI, Inc., our track record of success supporting the reliable, efficient and transparent distribution of RGGI CO2 emission allowances speaks for itself. The success of the RGGI auction process testifies to the quality of World Energy's people, processes and technology, and serves as a powerful model for future auction-based greenhouse gas reduction programs."

Earlier this year, World Energy signed a new contract with RGGI, Inc. to supply auction software and services for the ten state RGGI programs through July 31, 2012.

About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) (TSX: XWE) is an energy management services firm that applies an award-winning combination of people, process and technology to help clients manage energy as a strategic asset. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its Government, Commercial & Industrial, and Utility customers, creating more than $1 billion in value for them. World Energy is also a leader in the growing global carbon market, where its World Green 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: 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; 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.

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