City Sports on Fast Track to $300,000+ in Energy Savings With World
Company Helps Sporting Goods Retailer Lower Its Total Energy Cost
Through Auction-Based Procurement, Energy Efficiency Measures and
BOSTON, MA and WORCESTER, MA -- (Marketwire) -- 04/24/12 -- World
Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management
services firm, today announced it is implementing a comprehensive
energy management plan on behalf of City Sports, a specialty sports
retailer with locations across the East Coast. The plan, which
encompasses auction-based procurement, energy efficiency measures and
utility incentives, is projected to deliver the retailer over
$300,000 in energy savings over the next three years.
Working closely with City Sports, World Energy first identified
opportunities for energy cost reduction, prioritized them to maximize
return on investment, and now has begun to execute upon them. For
example, the Company has already helped City Sports successfully
procure electricity for 13 of its stores in four states, as well as
its Boston headquarters. The auctions, conducted over the World
Energy Exchange(R), were so effective that City Sports is now paying
a full 2 cents per kWh less than it was on its prior contract -- a
reduction that will yield approximately $240,000 in savings over the
next three years.
In addition to providing energy procurement services, World Energy is
helping the retailer implement new energy efficiency measures,
including lighting retrofits, at 7 of its MA and NY facilities. To
fund the lighting projects, World Energy has helped City Sports
secure utility incentives and on-bill financing for the efficiency
work. All told, these energy efficiency measures are expected to
deliver an additional $35,000 per year in energy savings.
"World Energy is making energy easy again," said Jim Kessler, EVP of
Finance and Chief Financial Officer, City Sports. "They combine
market expertise with a business-friendly approach that maximizes
savings and minimizes out of pocket expense. As a result, we are now
on track to use less energy, pay less for it, and have the utilities
fund the majority of the upgrades."
Added Bruce Buckbee, Vice President, Efficiency, at World Energy
Solutions: "Many businesses today are overwhelmed by the energy
choices facing them -- they just don't have the time or market
expertise to know how best to proceed. We sit down with our
customers, help them look holistically at their operations for energy
savings opportunities, and develop a prioritized game plan to reap
those savings. Today, our ability to procure energy, plan and execute
efficiency upgrades, and maximize available utility incentives --
packaging them all together to drive down total energy cost -- is
transforming how our customers manage energy."
World Energy believes total energy cost is best expressed by the
E = P x Q - i, where E, the total cost of
energy, equals P, the price paid per unit of energy, multiplied by Q,
the quantity of energy used, minus i, available utility incentives.
For more information on how World Energy puts this equation to work
for its customers, please watch this video:
About City Sports
An award-winning specialty sports retailer
headquartered in Boston, City Sports is the premier destination for
urban athletes and active lifestyle enthusiasts. The company operates
20 metropolitan stores across the East Coast, with locations in
Boston, Providence, New York, Philadelphia, Washington, D.C., and
Baltimore. City Sports offers a comprehensive assortment of
performance footwear, equipment and apparel from leading athletic
brands, special niche brands and its proprietary "CS by City Sports"
line, all focused on outfitting the urban athlete who participates in
running, triathlons, training, cycling, swimming, yoga and tennis.
City Sports was named one of 2010's "50 Best Running Stores in
America" by the Independent Running Retailers Association in
conjunction with Formula4Media.
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(R) 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.
For additional information, contact:
World Energy Solutions, Inc.
The Investor Relations Group
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