Boston, MA 09/30/2014 (wallstreetpr) – World Energy Solutions, Inc. (NASDAQ:XWES) disclosed that it had worked with the City of Haverhill, Massachusetts to successfully acquire electricity of more than 44 million kWh.
Cloud-Based Solution
According to a Globe Newswire article, World Energy Solutions, Inc. (NASDAQ:XWES) supported the City of Haverhill to obtain the electricity so as to power its 185 accounts. The City of Haverhill sought to complete the endeavor through a competitive online auctions series that took place on Sept 2 over the cloud-based energy management firm. It tested as many as 12 products and terms and received 114 bids from several electricity suppliers. According to reports, it obtained the bids from as many as seven qualified suppliers within a short span of two hours. The bids resulted in two fixed price deals, each for a contractual period of 24 months. The deals were made on the same day, and operations are expected to start by December.
In this context, City of Haverhill’s Mayor James J. Fiorentini said that World Energy made a significant contribution in enhancing competition for its business. He added that the process did much more than only luring several suppliers to their procurement event. He emphasized that the procedure that World Energy followed allowed them to take an educated decision in regards of purchasing energy, such that it could benefit taxpayers. He commended that the entire effort resulted in a competitive bidding.
Added Advantages
City of Haverhill’s Energy Manager and Purchasing Agent, Orlando Pacheco, also added that the auctions helped them analyze the market price of their accounts, both in total and individually. He informed that by disintegrating their water/wastewater accounts with their non- water/wastewater accounts fetched them a profit of $74,000. The profit here indicates the amount City of Haverhill saved by auctioning the accounts separately. In addition to this significant advantage of working with World Energy Solutions, Inc. (NASDAQ:XWES), City of Haverhill also benefitted another $38,000 because of the entire bidding procedure.
