March 30, 2007—World Energy Solutions, Inc. has announced the successful completion of several on-line energy auctions that are expected to save a consortium of Delaware state, county and local entities approximately $8.2 million over a three-year period. The contracts awarded as a result of the auctions will provide electricity at an average rate of $0.0815 per kWh, which is a reduction of 11.2 percent from the current year’s contract rates.
Included in electricity contracts awarded to three suppliers – Pepco Energy Services, Constellation New Energy and Amerada Hess – is a provision requiring that five percent of the electricity come from “green” sources for fiscal year 2008, increasing to six percent by the third year of the contract. In using the World Energy Exchange, the Delaware consortium was able to achieve its green objectives at no additional cost premium to the price of conventional power.
The electricity needs of school districts, volunteer fire companies, the city of Wilmington, Kent County, Sussex County, the University of Delaware and Delaware Technical and Community College were aggregated for the energy auctions.
World Energy is an energy brokerage company that has developed the World Energy Exchange on-line auction platforms, through which a diverse set of energy buyers and sellers can trade energy, financial instruments and renewable energy credits in a fiscally efficient and process compliant manner. For more information, see the Web site.
