Competitive Auctions Deliver Sustainability and Savings to New York Hospital
Brooklyn, NY and Worcester, MA – March 12, 2013 – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has teamed with GNYHA Services to help Wyckoff Heights Medical Center, a 350-bed teaching hospital in Brooklyn, successfully procure more than 28 million kWh of electricity from renewable sources. The resulting 24-month contract is expected to dramatically reduce the hospital’s carbon footprint while cutting its electricity costs by approximately $120,000.
Through a series of online auctions run on the World Energy Exchange®, Wyckoff Heights Medical Center was able to test pricing for various terms and products in an efficient and transparent manner. In all, the competitive event attracted nine suppliers, who over the course of 45 minutes submitted more than 90 bids, resulting in a new contract for 100% green power – a first for the hospital. Delivery under the new contract terms begins in April 2013.
By purchasing 100% green energy, Wyckoff Heights Medical Center is expecting to reduce its carbon dioxide emissions by 10,030 metric tons each year. This reduction is the equivalent of each of the following:
- Annual greenhouse gas emissions from 2,090 passenger vehicles
- CO2 emissions from 1,124,459 gallons of gasoline consumed
- CO2 emissions from 23,326 barrels of oil consumed
- CO2 emissions from the electricity use of 1,502 homes for one year
(Source: EPA Greenhouse Gas Equivalencies Calculator)
“Going green is an important part of our evolution as a care provider for our community,” said Ramon Rodriguez, CEO, Wyckoff Heights Medical Center. “World Energy and GNYHA Services delivered a great process for procuring green power, one that attracted more suppliers to compete for our business, drove aggressive bidding, and ultimately resulted in a landmark purchase – at a great price – for our medical center.”
Added Phil Adams, CEO of World Energy Solutions: “Time and time again, our auctions deliver great results for customers by heightening competition for their business and providing unmatched visibility into pricing across various terms and products, including renewables. A major benefit of this approach is that we often are able to help our customers reduce their total energy costs while significantly greening their portfolios, something Wyckoff Heights Medical Center has laudably achieved.”
About Wyckoff Heights Medical Center
Located in an ethnically diverse residential neighborhood directly on the border of northern Brooklyn and Western Queens, Wyckoff Heights Medical Center is a 350-bed teaching hospital that has been providing medical care to the community since 1889. A dedicated staff of 1,800 physicians, nurses and support personnel represent thirty-five distinct languages and cultures. For more information, please visit: www.wyckoffhospital.org/
About GNYHA Services
GNYHA Services, Inc. is an acute care group purchasing organization (GPO) operated by GNYHA Ventures and affiliated with Premier, Inc. The uniquely structured alliance between GNYHA Services and Premier combines the benefits of national pricing through Premier, the nation’s leading GPO, with the advantages of regional flexibility in contracting and pricing through GNYHA Services. GNYHA Services operates as a full-service healthcare company that offers business solutions to complement the purchasing program and help improve hospitals’ financial and operational success.
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.
For additional information, contact:
World Energy Solutions, Inc.
Hector Cruzado, Chief of Staff
Wyckoff Heights Medical Center
Source: World Energy Solutions, Inc.