SOURCE: World Energy Solutions

World Energy Solutions

March 17, 2011 07:30 ET

World Energy Solutions Successfully Supports Eleventh RGGI CO2 Auction

Total Program Proceeds Top $860.9 Million

WORCESTER, MA--(Marketwire - March 17, 2011) - World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has successfully supported the 11th quarterly auction of carbon dioxide (CO2) allowances administered by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on March 9, 2011.

According to RGGI, Inc., all of the 41,995,813 current control period CO2 allowances (2009-2011) offered in the auction sold at a price of $1.89 per allowance. States also offered a smaller number of CO2 allowances for a future control period (2012-2014). All of the 2,144,710 future control period allowances offered in the auction sold at a price of $1.89 per allowance. In total, the auction yielded over $83.4 million for investment in energy efficiency and job creation.

In a previously released statement, David Littell, a Commissioner of the Maine Public Utilities Commission and Chair of the Regional Greenhouse Gas Initiative, Inc. Board of Directors, said: "The RGGI states have put in place the infrastructure for a reliable, secure North American carbon market. The RGGI auctions continue to provide power plants with the carbon allowances they need, and states will continue to invest millions from the RGGI auctions for energy bill savings, new jobs and improved business competitiveness."

Added Richard Domaleski, CEO of World Energy Solutions: "Since 2008, the smooth running of the RGGI auction process has testified to World Energy's experience and innovation in supporting auction-based emission reduction programs."

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 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 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