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Attention Business Editors
World Energy Supports Eighth Successful RGGI Carbon Dioxide Allowances Auction
Auction Yields $80.4 Million for Investment in the Clean Energy Economy
WORCESTER, MA, June 16 /CNW/ - World Energy Solutions, Inc. (NASDAQ:
XWES; TSX: XWE), a leading energy management services firm, today announced it
has successfully supported the second quarterly auction of carbon dioxide
(CO(2)) allowances in 2010, and eighth overall, administered by Regional
Greenhouse Gas Initiative, Inc. (RGGI, Inc.) on June 9, 2010.
According to RGGI, Inc., 40,685,585 CO(2) allowances for the first
three-year control period (2009-2011) offered in last Wednesday's auction sold
at $1.88 per allowance, while 2,137,993 CO2 allowances for the second control
period (2012-2014) sold at $1.86 per allowance. Proceeds from all auctions
held to date now total more than $662.8 million, with states investing the
vast majority of proceeds to improve energy efficiency and accelerate the
deployment of renewable energy technologies.
In a previously released statement, David Littell, Commissioner of the
Maine Department of Environmental Protection and Chair of the RGGI, Inc. Board
of Directors, said: "(Last) Wednesday's auction continues RGGI's track record
of successful implementation. As we work to advance legislation at the federal
level, the RGGI programs continue to be a model for strong national policy,
developing best practices for the implementation of cap-and-trade programs."
Added Jonathan Schrag, Executive Director of RGGI, Inc.: "World Energy
continues to play an important role in providing transparent and efficient
distribution of RGGI CO(2) allowances, as evidenced by another well executed
auction."
Concluded Richard Domaleski, CEO of World Energy: "Eight successful
cap-and-trade auctions in a row, combined with the recent renewal of our
contract with RGGI, Inc., testify to the strength and consistency of our
offering in this space. We look forward to helping RGGI continue to lead by
example in cap-and-trade."
On May 6, 2010, World Energy announced the renewal of its contract with
RGGI, Inc. to supply auction software and services for the ten state RGGI
programs through July 31, 2012.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE) is an energy
management services firm that applies an award-winning combination of people,
process and technology to help clients manage energy as a strategic asset. To
date, the Company has transacted more than $20 billion in energy, demand
response and environmental commodities on behalf of its Government, Commercial
& Industrial, and Utility customers, creating more than $1 billion in value
for them. World Energy is also a leader in the growing global carbon market,
where its World Green Exchange(R) supports the ground-breaking Regional
Greenhouse Gas Initiative's (RGGI) cap-and-trade program for CO(2) 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: 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; 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.
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/For further information: Dan Mees, World Energy Solutions, Inc., (508)
459-8156, dmees@worldenergy.com; Erika Moran, The Investor Relations Group,
(212) 825-3210, emoran@investorrelationsgroup.com/
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