first_imgAbout BEDBurlington Electric Department, the municipally owned electric utility for the City of Burlington, Vermont, serves about 16,000 residential customers and more than 3,600 commercial customers. As a city department, BED shares the values of the residents who have voted for energy efficiency programs, who have supported a clean power mix and who have expressed a desire to move forward into the 21st century in a manner that is sustainable and will provide future generations the chance to enjoy Burlington and its beautiful resources as the current generation does. For more information, see:www.burlingtonelectric.com(link is external)About World Energy Solutions, Inc.World Energy (NASDAQ: XWES; TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas, capacity, and green- energy assets who are impacted by today s volatile markets, World Energy s proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to enabling customers to seek competitive pricing on traditional energy commodities, World Energy is taking a leadership position in the emerging environmental-commodities markets. Its award-winning World Green Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative s (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com(link is external).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: our revenue is 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; we depend on a small number of key energy consumers, suppliers and channel partners; there are factors outside our control that affect transaction volume in the electricity market; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.Source: BED. Burlington, VT and Worcester, MA April 30, 2009 World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green commodities, today announced Burlington Electric Department (BED) has successfully brought to market, and sold, CT Class I Renewable Energy Certificates (RECs) on the World Green Exchange®. BED produces a significant number of CT Class I RECs annually through a wood-fired facility in Burlington, Vermont. The RECs have been sold on behalf of BED and the other joint owners of the facility: Central Vermont Public Service, Green Mountain Power, and VPPSA.The successful transactions, in which multiple bidders were awarded RECs, have set the stage for future REC sales events, including one planned for later in May. Prior to engaging with World Energy, BED sold its RECs through various brokers, but it was looking for additional methods to bring its clean-energy assets to market. Using the World Green Exchange has enabled BED to solicit the interest of multiple bidders, test pricing, and come to contract terms quickly with buyers. At BED the creation and sale of RECs are an important part of our clean energy strategy, so finding effective ways to bring these assets to market is a priority, said Ken Nolan, Director of Resource Planning at BED. Posting our RECs on the World Green Exchange is helping us build a dialogue with interested buyers while also making it easier for us to transact with confidence. We like the transparency we are gaining with this system and the momentum we are building with buyers in advance of future postings.Phil Adams, President of World Energy, added, RECs are an important part of how utilities and retail energy providers comply with renewable portfolio standards, yet the REC market remains illiquid and opaque. The REC market needs to provide buyers and sellers more transparency if it is to become a mainstay of how business is done. That is the spirit informing every aspect of the World Green Exchange, and we are happy to be attracting companies of BED s caliber to our platform and helping them achieve positive results.The World Green Exchange® is an open, information-rich marketplace that enables buyers and sellers of carbon commodities to transact with confidence. Working with leading standards, registries, consultants, project developers and banks, the World Green Exchange streamlines the procurement process while delivering transparency, quality, choice and value. More than 78 million green commodities, spanning CERs, VERs, RECs, Alberta offsets and RGGI allowances, have been transacted on the World Green Exchange, making it one of the largest primary carbon marketplaces in the world. The World Green Exchange is owned and operated by World Energy Solutions, Inc. (www.worldenergy.com(link is external)).last_img read more