NEW YORK, March 15, 2013 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq:XWES), a leading energy management services firm, today announced it will be facilitating competitive auctions on behalf of Rockland Electric Company (RECO). The online auctions are being conducted over the World Energy Exchange® to help RECO hedge energy and capacity for its full-service customers. The auctions are to be held on April 26, 2013 at 10:00 a.m. EDT.
RECO is seeking competitive offers for financial energy swap futures transactions as well as a financially settled UCAP swap futures transaction. RECO will seek a financially settled energy swap futures transaction for NYMEX NYISO Zone G (Peak and Off-Peak) products for the period from June 1, 2013 – May 31, 2014 and a financially settled UCAP swap futures transaction for a NYMEX NYISO Rest of State Capacity product for the period June 1, 2013 – May 31, 2014. All transactions will be processed by a designated third-party clearing house and will be cleared on NYMEX.
For more information about this event, please refer to the auction announcement on the World Energy auction platform at: https://www.wesplatform.com/webportal/Public/Announcement.aspx?ID=oMrHl1qS8CM%3d or contact Sean Perry at sperry@worldenergy.com or (508) 459-8147.
The Rockland Electric utility company serves more than 60,000 residential customers in northern New Jersey.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (Nasdaq:XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. For more information, please visit http://www.worldenergy.com/">www.worldenergy.com.
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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, the following: our revenue and backlog are 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; the potential impact on our historical and prospective financial results of a change in accounting policy may negatively impact our stock price; and other factors outside our control that affect transaction volume in the electricity market as well as our overall business. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.