World Energy news releases.
World Energy Solutions Supports Fifteenth RGGI CO2 Allowances Auction
March 21, 2012 at 8:30 am
21.5 Million Allowances Sold
Worcester, MA – March 21, 2012 – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has successfully supported the 15th quarterly auction of carbon dioxide (CO2) allowances administered by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on March 14, 2012.
According to RGGI, Inc., 21,559,000 of the current control period (2012-2014) CO2 allowances offered for sale by the 9 Northeastern and Mid-Atlantic states participating in the second RGGI control period were sold in this event. The auction, the first of RGGI’s second three-year control period, generated $41.6 million in proceeds, bringing the cumulative auction proceeds to over $990 million. The next RGGI auction is scheduled for June 6, 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: “By using the auction proceeds to invest in energy efficiency, the RGGI states continue to help families and businesses save money, support local job creation, and improve air quality. Smart energy efficiency investments enabled by RGGI have created thousands of local jobs and are returning significant cost savings to business and residential consumers throughout the region.”
Full details of the auction results can be found in the RGGI, Inc. press release dated March 16, 2012 and on 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 $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 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.
Source: World Energy Solutions, Inc.