2014

State of Connecticut Completes Renewable Energy Auction with World Energy Successful Auction Yields Savings and High Percentages of Renewable Energy



    WORCESTER, MA, Oct. 18 /PRNewswire-FirstCall/ - World Energy Solutions,
 Inc. (TSX: XWE), the operator of leading online exchanges for energy and
 energy-related products, announced the State of Connecticut has completed
 its first successful energy auction through the web-based World Energy
 Exchange. As a result of the initial auction, Connecticut has achieved a
 high mix of renewable energy, underscoring the State's commitment to
 mitigating climate change. In addition, the energy contracts achieved
 through World Energy are expected to generate a total cost savings of $18
 million dollars over the 20 month contract period.
     By leveraging World Energy's proven web-based platform, the State of
 Connecticut was able to award a series of contracts to supply the State
 with more than 505 million kilowatt hours (kWh) per year. As part of that
 total, the participating agencies were able to contract the equivalent of
 134,420 MWh of renewable power, which when combined with the State's
 Renewable Portfolio Standard, yields a 17 percent greening of the state's
 overall energy portfolio. Connecticut is one of 10 states participating in
 the Regional Greenhouse Gas Initiative (RGGI), a pioneering cap and trade
 system to limit greenhouse gas emissions. Out of the 10 RGGI states,
 Connecticut becomes the fifth to select World Energy for its energy
 procurement needs, and the sixth state overall.
     "The World Energy Exchange and their team of knowledgeable industry
 experts provided even more value than we had anticipated. We were
 especially pleased with the aggressive pricing we received for green power
 and given the success of this first procurement, we look forward to
 leveraging World Energy again to address other energy needs," commented
 Secretary Robert Genuario at the State of Connecticut.
     As energy costs continue to rise and concerns regarding climate change
 escalate, organizations are actively seeking ways to lower costs and
 procure energy commodities at an optimal price. State and local governments
 are leading the way, ensuring green power is a significant part of their
 energy portfolios. By leveraging World Energy's platform, state government
 customers receive transparent, fair market pricing for any mix of green
 power they choose.
     "Our customers have been recognized for achieving outstanding cost
 savings on energy procurement and commended for their leadership in
 greening energy portfolios," said Richard Domaleski, CEO and founder of
 World Energy. "Our deep market knowledge, when combined with the proven
 success of the Exchange, enables state and local governments to
 successfully manage their energy portfolio today and throughout the
 evolution of the market."
     About World Energy Solutions, Inc.
     World Energy operates leading online exchanges for energy and
 energy-related products. Our proven approach provides market intelligence,
 promotes liquidity, and creates price transparency for all market
 participants, enabling our customers to transact with confidence and to
 seek the best possible price. To date, the company has transacted over 40
 billion kwh of electricity, 700 million kwh of green power and Renewable
 Energy Certificates (RECs) and one trillion cubic feet of natural gas. 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: our revenue is 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; we
 depend on a small number of key energy consumers, suppliers and channel
 partners; there are factors outside our control that affect transaction
 volume in the electricity market; and there are other factors identified in
 our Annual Report on Form 10-K and subsequent reports filed with the
 Securities and Exchange Commission.
 
 

SOURCE World Energy Solutions, Inc.

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