Capital Region College Taps Online Auctions for $650,000 in Savings
Albany, NY and Worcester, MA – June 24, 2014 – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it teamed with channel partner Energy Partner Consultants to successfully procure over 30 million kWh of electricity for The College of Saint Rose in Albany, New York. In keeping with the College’s progressive principles, more than 3 million kWh of power will be sourced from renewables.
Through a series of competitive online auctions run on the cloud-based World Energy Exchange® on June 11, 2014, The College of Saint Rose tested 12 different terms and products, selecting a fixed-price product for 80 of its campus accounts. Working with World Energy and Energy Partner Consultants, the College received 83 bids in one hour, ultimately saving more than $650,000 over its prior contract while deepening its commitment to the environment. Delivery under the new 34-month contract begins in July.
With its purchase of green power, the College will reduce its carbon dioxide emissions by 762 metric tons each year. This reduction is the equivalent of each of the following:
Removing 160 passenger vehicles from the road each year
Reducing demand for 1,772 barrels of oil each year
Reducing the need for 4.1 railcars worth of coal each year
Reducing the equivalent demand of “brown energy” to power 105 homes each year
(Source: EPA Greenhouse Gas Equivalencies Calculator)
“Working with World Energy and Energy Partner Consultants on this strategic procurement brought us many benefits,” said Marcus Buckley, Chief Operating Officer at The College of Saint Rose. “The market expertise of their people combined with the transparency and competitive dynamics of the auction helped us get into the right energy product at the right price, while advancing our environmental stewardship.”
Added Phil Adams, CEO of World Energy Solutions: “With energy prices on the rise, colleges across the country are learning to adopt best practices in energy procurement, including online auctions, to heighten competition for their business and extract the best price from the market. We commend The College of Saint Rose for using a procurement process that successfully supports its business and environmental goals.”
About The College of Saint Rose
The College of Saint Rose (www.strose.edu) is a dynamic, progressive college of 4,700 students in the heart of New York’s capital city where teaching is the first priority. With a rigorous liberal education curriculum, 70 undergraduate majors, 53 master’s degrees and 25 graduate certificates, and a mission of service to the urban community, the Saint Rose experience empowers students to improve themselves and the world around them.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy technology and services firm transforming energy procurement and energy efficiency for commercial, industrial, institutional, government and utility customers. The Company’s award-winning, cloud-based auction platform, the World Energy Exchange®, its team of energy experts, and a network of more than 500 suppliers and 300 channel partners form an ecosystem that enables customers to minimize their total cost of energy. To date, World Energy has transacted over $45 billion in energy, demand response and environmental commodities, creating more than $3 billion in value for its customers. 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.
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