World Energy Solutions Supports 21st RGGI CO2 Allowance Auction
WORCESTER, Mass., Sept. 11, 2013 (GLOBE NEWSWIRE) -- World Energy Solutions,
Inc. (Nasdaq:XWES), a leading energy management services firm, today announced
it successfully supported the 21st quarterly auction of carbon dioxide (CO)
allowances administered by Regional Greenhouse Gas Initiative, Inc. (RGGI,
Inc.). The auction held Wednesday, September 4, 2013 marks five years since
the launch of the RGGI auctions in 2008.
According to RGGI, Inc., 38,409,043 CO allowances were sold at the auction
at a clearing price of $2.67, generating $102.5 million for reinvestment by
the RGGI states in a variety of consumer-benefitting initiatives, including
energy efficiency, renewable energy, direct bill assistance and greenhouse gas
abatement programs. The next RGGI auction is scheduled for December 4, 2013.
In a previously released statement, Collin O'Mara, Secretary of the Delaware
Department of Natural Resources and Environmental Control and Chair of the
RGGI, Inc. Board of Directors, said: "Having realized a more than 30 percent
reduction in regional power sector carbon dioxide pollution, the RGGI states
continue to operate one of the most cost-effective market-based carbon
reduction programs in the world. States, regions, and countries are
increasingly recognizing that RGGI's system of auctioning allowances provides
flexibility with market certainty. Coupled with the reinvestment of allowance
proceeds in strategic energy programs, the result is a program that
cost-effectively reduces carbon pollution while also supporting economic
More details of the auction results can be found in the RGGI, Inc. press
release dated September 6, 2013 and at 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 $40 billion in energy, demand response and
environmental commodities on behalf of its customers, creating more than $2
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
This press release contains forward-looking statements. The words
"anticipates," "believes," "estimates," "expects," "intends," "may," "plans,"
"projects," "will," "would" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements
contain these identifying words. The Company has based these forward-looking
statements on its current expectations and projections about future events,
including without limitation, its expectations of backlog and energy prices.
Although the Company believes that the expectations underlying any of its
forward-looking statements are reasonable, these expectations may prove to be
incorrect and all of these statements are subject to risks and uncertainties.
Should one or more of these risks and uncertainties materialize, or should
underlying assumptions, projections or expectations prove incorrect, actual
results, performance or financial condition may vary materially and adversely
from those anticipated, estimated or expected. Such risks and uncertainties
include, but are not limited to the following: the Company's revenue and
backlog are dependent on actual future energy purchases pursuant to completed
procurements; the demand for the Company's services is affected by changes in
regulated prices or cyclicality or volatility in competitive market prices for
energy; the potential impact on the Company's historical and prospective
financial results of a change in accounting policy may negatively impact its
stock price; and other factors outside the Company's control that affect
transaction volume in the electricity market. Additional risk factors are
identified in the Company's Annual Report on Form 10-K for the year ended
December 31, 2012 and subsequent reports filed with the Securities and
Exchange Commission. The forward-looking statements made in this press release
are made as at the date hereof. The Company undertakes no obligation to update
any forward-looking statement to reflect events or circumstances after the
date on which the statement is made or to reflect the occurrence of
unanticipated events, other than as required by securities laws.
CONTACT: For additional information, contact:
World Energy Solutions, Inc.
World Energy Solutions, Inc. logo
Press spacebar to pause and continue. Press esc to stop.