World Energy Solutions Awarded State Of Connecticut Contract For Online Energy Procurement

Worcester, MA - World Energy Solutions, Inc., the operator of leading online exchanges for energy and energy-related products, recently announced that it has been awarded a five-year contract to assist the State of Connecticut in its efforts to obtain energy commodities.

"This is our third state award this year and sixth overall out of the 11 states that have viable competitive markets for electricity," said Richard Domaleski, CEO and founder of World Energy." "We are pleased that the State of Connecticut has selected us as its online energy procurement solution, which we view as further validation of our position as the leading provider to U.S. government agencies at both the state and local levels. Our online exchange model has proven to be a favored solution for government agencies as it promotes liquidity, creates price transparency and uniquely drives the fair and open competition so critical to government procurements. It also provides these customers with flexibility to meet future requirements that relate to green initiatives through the World Green Exchange."

World Energy uses its World Energy Exchange online reverse auction platform, which has been shown to save customers an average of 11% compared with traditional paper-based approaches to energy procurement. In addition, the Company offers its standard support services and tools, including: the creation of a central repository and reporting capability for usage data; market intelligence; documentation of all procurement activity to support compliance requirements faced by the state agencies; and supplier coordination. As part of its standard process, World Energy will also assist the State with its overall energy planning and procurement strategy.

"Government contracting has some unique requirements and we made a commitment a number of years ago to ensure that our business model could effectively accommodate those special demands. The investment necessary to build this kind of track record of success has certainly paid dividends for us as these long-term contracts provide revenue visibility and the opportunity to broaden our relationships with these government entities over time, including working with them on their Regional Greenhouse Gas Initiatives (RGGI) and other green programs," added Domaleski.

SOURCE: World Energy Solutions, Inc.