World Energy news releases.
World Energy Solutions Supports Fourteenth RGGI CO2 Allowances Auction
December 14, 2011 at 8:00 am
27 Million Allowances Sold
Worcester, MA – December 14, 2011 – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has successfully supported the 14th quarterly auction of carbon dioxide (CO2) allowances administered by Regional Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on December 7, 2011.
According to RGGI, Inc., 27,293,000 of the current control period (2009-2011) CO2 allowances offered for sale by the 10 participating states were sold in this event. The auction generated $51.5 million in proceeds, bringing the cumulative auction proceeds to $952 million. The next RGGI auction, the first of the second control period, is scheduled for March 14, 2012.
In a previously released statement, David Littell, a Commissioner of the Maine Public Utilities Commission and Chair of RGGI, Inc., said: “RGGI’s first three years have delivered results: results that generate significant economic benefit while preventing harmful pollutants from entering our air and atmosphere. The auctions have proven to be an effective and efficient way to allocate CO2 allowances. RGGI has demonstrated that market-based solutions work, promoting innovation in low-emissions technologies and providing an economic engine for investments in energy efficiency, workforce training, and bill assistance programs.”
Full details of the auction results can be found in the RGGI, Inc. press release dated December 9, 2011 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.