April 19, 2010
Source: Source: World Energy Solutions, Inc.
World Energy Solutions, Inc. (XWES) said the State of Delaware has successfully contracted for over 800,000 MWh of electricity and renewable energy using the World Energy Exchange. The 36-month contract - awarded to Washington Gas Energy Services and commencing on July 1, 2010 - is projected to save Delaware and its aggregation partners over $13 million, while advancing the State's sustainability goals. Twenty-five percent of the awarded load will come from renewable sources, which, in addition to State-required renewable portfolio standards (RPS), will bring Delaware's total percentage of clean energy to over thirty.
World Energy worked closely with the State on this energy procurement, providing ongoing counsel, developing and running multiple RFPs, managing communications with the supplier community and, ultimately, running a fair, transparent and highly competitive set of online pricing events. The auctions, conducted April 8, 2010, tested multiple parameters, including term lengths and mixes of green and traditional energy, providing the State excellent price discovery and a competitive dynamic that yielded a high percentage of green power at a low cost.
In a previously released statement, Governor Markell said: "We will continue to push for ways to drive down the cost of government. These electricity agreements not only save taxpayers' money but allow the state to increase the amount of clean power it uses in state facilities. I am pleased we were able to make energy purchases that represent a win-win for Delawareans."
Added Ann Visalli, director of the Office of Management and Budget: "We are very pleased with the results of today's auction. By combining our electricity purchase with all of our aggregation partners, we were able to secure very favorable prices from electricity generators using the innovative reverse auction methodology."
The State's partners for the energy bid included school districts, volunteer fire companies, New Castle County, Kent County, Sussex County, the University of Delaware, Delaware Technical and Community College, the Delaware Solid Waste Authority and the Riverfront Development Corporation, along with other Delaware cities, towns and municipalities.
Concluded Phil Adams, President of World Energy: "Energy buyers like the State of Delaware turn to us for their high-stakes, high-visibility procurements because they know World Energy will deliver. Our track record managing procurements for Government and Utility customers - where there is significant stakeholder scrutiny, a high degree of complexity and the need to optimize the often-conflicting goals of fiscal responsibility and environmental stewardship - is second to none and has earned us a loyal base of repeat customers."