WORCESTER, MA--(Marketwire - Dec 12, 2012) - World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it successfully supported the 18th quarterly auction of carbon dioxide (CO2) allowances administered by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on December 5, 2012.
According to RGGI, Inc., 19,774,000 CO2 allowances were sold at the auction, generating $38.1 million for reinvestment by the RGGI states in a variety of consumer-benefitting initiatives, including investments in energy efficiency, clean and renewable energy, direct bill assistance, and greenhouse gas abatement and climate change adaptation. The next RGGI auction is scheduled for March 13, 2013.
In a previously released statement, Collin O'Mara, Secretary of the Delaware Department of Natural Resources and Environmental Control and Chair of the RGGI, Inc. Board of Directors, said: "The 2011 RGGI proceeds report illustrates how RGGI is helping to accelerate our region's transition to a clean energy economy. The report estimates that over their lifetime these RGGI investments will help avoid 12 million short tons of carbon dioxide pollution -- or the equivalent of the emissions from two million passenger vehicles for a year."
Added David Littell, a Commissioner of the Maine Public Utilities Commission and Vice-Chair of the RGGI, Inc. Board of Directors: "RGGI's market-based mechanism does more than set a clear and enforceable cap on carbon dioxide pollution -- RGGI also delivers environmental, economic, and consumer benefits to the RGGI states with wise allowance investments that save ratepayers money and reduce emissions."
More details of the auction results can be found in the RGGI, Inc. press release dated December 7, 2012 and at www.rggi.org.
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 $30 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 Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas 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.