World Energy Solutions' Online Energy Procurement Platform Enables City to Achieve Budget Certainty Despite Volatile Energy Markets

SPRINGFIELD, MA, June 11 /PRNewswire-FirstCall/ - Mayor Domenic J. Sarnotoday announced that Springfield has secured a $47.5 million, 60-month supplyof electricity using the World Energy Exchange online procurement platform.The city's usage is 48 million kWh annually.

The winning bid came in five percent less than the city had budgeted forelectricity, enabling it to annually reallocate $500,000 dollars to otherbudgetary priorities.

'With energy rates at an all time high, we needed a partner who could helpus achieve budget certainty and provide the most efficient procurementprocess,' said Sarno. 'World Energy absolutely met those two objectives, andthe end result was a long-term contract at rates that actually came in fivepercent (or $500,000) below our annual budget forecast.'

Stephen P. Lisauskas, executive director of the Springfield FinanceControl Board, said the procurement is an example of the many improvements inenergy management the City has made in recent years; including more than $15million in energy efficiency investments and improved buying, which is savingmillions of dollars.

'The World Energy contract is another step in the right direction,allowing the City to lock in rates now and avoid cost increases in thefuture,' said Lisauskas.

Said World Energy CEO Richard Domaleski: 'Increasing energy costs areputting a strain on city and town budgets across the nation. While the WorldEnergy Exchange cannot solve the global energy crisis, it can help governmentsdeal with this crisis by providing them with an exchange where they can securecompetitive prices for their energy contracts, freeing up municipal funds forschools, police, road repair and other key government functions.'

Seamless Online Energy Acquisition

Before it began using the World Energy Exchange, the City of Springfieldprocured energy through a consultant using paper-based Requests for Proposals(RFPs).

However, rising energy costs and increased energy market volatilityconvinced the City that it should attempt to procure its electricity in a waythat was more efficient, and that would provide the city with the best pricingavailable for electricity over the next five years.