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WATERTOWN, Conn. and WORCESTER, Mass., Feb. 5, 2013 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq:XWES), a leading energy management services firm, today announced it has helped the Taft School, an independent boarding and day school, successfully procure more than 13 million kWh of electricity from renewable sources for its Watertown campus. The resulting 36-month contract is expected to reduce the school's carbon footprint while cutting electricity costs by over $300,000.
Through a series of online auctions run on the World Energy Exchange®, the Taft School was able to test various terms and products in a transparent and objective manner. The competitive event attracted numerous suppliers, yielding a winning price more than $.02/kWh less than its prior contract, while delivering 100% green power. Delivery under the new contract terms began January 26, 2013.
By purchasing 100% green energy, the Taft School is expected to reduce its carbon dioxide emissions by 3,169 metric tons each year. This reduction is the equivalent of each of the following:
Annual greenhouse gas emissions from 660 passenger vehicles
CO 2 emissions from 355,213 gallons of gasoline consumed
CO 2 emissions from 7,369 barrels of oil
CO 2 emissions from the electricity use of 474 homes for one year (Source: EPA Greenhouse Gas Equivalencies Calculator)
"In keeping with our motto – 'Not to be served, but to serve' – we are pleased to have worked closely with World Energy on a strategic energy purchase that not only powers our entire campus affordably, but in a manner that advances our environmental stewardship, deepening our commitment to a sustainable future for our students, faculty and town," said Gil Thornfeldt, CFO/Business Manager, the Taft School.
Added Phil Adams, CEO of World Energy Solutions: "One way we serve our customers is by delivering a process for purchasing green that induces the supplier to give a great price on green to get the whole contract. We've seen it work so many times now, whether in procuring green power for the Statue of Liberty, Fortune 500 companies, state and local governments, hospitals or schools: running auctions that bundle varying degrees of conventional and green power extracts the most value from the market, putting the customer in position to go green at the pace – and price – that is right for them."