Large Natural Gas Deal Marks World Energy's Breakthrough in Oregon
Market, Saving University $1.9 Million
PORTLAND, OR and WORCESTER, MA, July 27 /PRNewswire-FirstCall/ - World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green commodities, today announced Oregon Health Science University, the State's only academic health center and Portland's largest employer, has procured 750,000 Dth of natural gas through the World Energy Exchange(R). The procurement is set to deliver OHSU more than $1.9 million in savings over the prior year's utility rate.
With a statewide mission and numerous sites in and around Portland, OHSU requires significant energy resources. World Energy worked closely with OHSU to help it understand its options beyond staying on the utility, develop and market an RFP, and test natural gas pricing among various third-party suppliers. This competitive process culminated in a successful transaction on May 29, 2009, with delivery beginning on November 1, 2009.
'World Energy helped us move beyond business as usual to make our energy procurement more strategic, competitive and cost-effective,' said Ken Roberts, Utilities Energy Manager for OHSU. 'Until working with their expert team, we had always contracted with our utility. World Energy helped us every step of the way to better understand our procurement opportunities, spur competition, and execute the right contract, at the right rate, for us.'
Added Phil Adams, President of World Energy: 'Colleges and universities around the country are viewing their energy use and procurement more strategically. It seems only fitting that OHSU, Oregon's leading research university, is moving to the front of the class in its embrace of an online, technology-based procurement method for purchasing energy. World Energy values the opportunity to serve one of Oregon's premiere institutions and demonstrate the benefits delivered by our people, process and platform.'
About OHSU
Oregon Health Science University is the state's only health and research university, and Oregon's only academic health center. OHSU is Portland's largest employer and the fourth largest in Oregon (excluding government).
