World Energy Solutions, which provides energy management services and carbon market like their World Energy Exchange® that fully supports the first mandatory market-based greenhouse gas emissions regulatory program, the Regional Greenhouse Gas Initiative, announced today that the company has helped federal government workplace solutions provider GSA (General Services Administration), New England Region, to lock down some 920M kWh of electricity via competitive World Energy Exchange online auctions.
This powerful trading framework allowed XWES to handle 168 bids in under two hours from either different suppliers, vetting a whole range of products and terms in a fair and wholly transparent manner and netting over 69M of those aforementioned kWh from renewables. The lion’s share of the kWh thusly procured will go to infrastructure of 119 federal accounts across Connecticut, Maine, Massachusetts, New Hampshire, and Rhode Island.
This strategic procurement was extremely successful and represents the first time federal accounts in the Commonwealth of Massachusetts were included, resulting in a quadrupling of the load auctioned via XWES by the GSA, New England Region, back in 2011. This auction managed to bring in seven new 36-month contracts covering block and index, as well as fixed-price products, 7.5% of which is green energy and in total, we are talking a hefty savings of over $5.5M compared to the prior agreements the participating agencies had on the table.
Yet another case where XWES proves they have the superior architecture and the requisite skill set to deliver (delivery start slated for March 2014 ) big savings and improved energy profiles for the exacting requirements of federal agencies. The block and index product in particular is noteworthy as it was designed specifically for the unique nuances of the New England power market and really incentivizes the agencies to bleed off excess load during periods of peak pricing. Agencies like the American Red Cross, Bureau of Prisons, and the Department of State participated in this procurement, as well as the VA and Hanscom Air Force Base.
Today’s announcement marks a long and distinguished track record of successes with GSA for the company stretching back to 2001, during which XWES has delivered a whopping 13B kWh plus of electrical supply and some 170M dekatherms (1 Dth is equal to 1M BTUs or approximately 293 kWh) of natural gas supply.
VP of Government operations for XWES, Jonathan Harvey, called the deal a real milestone, both for XWES and for the GSA. Harvey thanked the GSA team and their outstanding energy personnel for helping to execute an extremely successful procurement that really breaks the mold in terms of using innovative pricing products that can leverage both investments in demand-side management, as well as those in supply-side buying strategies that have been cultivated by these federal agencies.
Harvey pointed proudly to the block and index product that only fixes prices during the months when prices are highest, while allowing the price to float for the remainder when prices are often up to more than half as much, as a prime example of how XWES can help federal agencies save money, especially in times of extreme budgetary duress.
Read more about World Energy Solutions, Inc. at www.WorldEnergy.com
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