SOURCE: World Energy Solutions, Inc.
WORCESTER, MA--(Marketwire - Sep 13, 2012) - World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it successfully supported the 17th quarterly auction of carbon dioxide (CO2) allowances administered by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on September 5, 2012.
According to RGGI, Inc., 24,589,000 of the current control period CO2 allowances offered for sale by 9 Northeastern and Mid-Atlantic states were sold in this most recent event. The auction, the third of RGGI's second three-year control period, generated $47.4 million in proceeds. Funds generated by the auction will be reinvested by the RGGI states in energy efficiency, clean and renewable energy, direct bill assistance, and other consumer benefit programs across the region. The next RGGI auction is scheduled for December 5, 2012.
In a previously released statement, Collin O'Mara, Secretary of the Delaware Department of Natural Resources and Environmental Control and Chair of RGGI, Inc., said: "RGGI proceeds invested in energy efficiency are reducing energy costs, creating jobs, and strengthening our energy infrastructure. By working closely with industry partners, critical energy investments are being made today that are enhancing our economic competitiveness for years to come."
Added David Littell, a Commissioner of the Maine Public Utilities Commission and Vice-Chair of RGGI, Inc.: "The RGGI auctions are serving as a model for efficient distribution of allowances for pollution reduction trading programs."
Full details of the auction results can be found in the RGGI, Inc. press release dated September 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 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.