DILLSBURG, Pa. and WORCESTER, Mass., Oct. 7, 2014 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq:XWES), a leading energy procurement firm, today announced it has teamed again with channel partner EnergyWise Consulting to help Presbyterian Senior Living, a large and growing senior-living network, successfully procure more than 30 million kWh of electricity for three of its Pennsylvania facilities.
Through a series of competitive auctions run on the cloud-based World Energy Exchange®, Presbyterian Senior Living was able to test multiple terms and products behind the PPL, Penelec and West Penn Power service territories. Leveraging this process, Presbyterian Senior Living received more than 120 real-time bids from 12 qualified electricity suppliers, ultimately securing competitive rates for fixed-price contracts running through 2017. Delivery under the new terms begins in January 2015.
"World Energy's approach to energy procurement maximizes our buying power and is a close fit with our culture," said Jeff Davis, CFO, Presbyterian Senior Living. "I know from experience that the auctions will deliver a result marked by the highest transparency, competitiveness and integrity. World Energy provides a super-efficient, super-transparent and super-easy way to buy electricity across multiple sites."
Since 2009, World Energy and EnergyWise Consulting have worked together to procure electricity – behind six separate utility service territories in Pennsylvania and Maryland – for Presbyterian Senior Living communities. Over the course of that time, Presbyterian Senior Living has turned to the energy management firms to help manage a growing portfolio of sites, accounting for more than $5 million in annual electricity spend.
According to Davis, "If every $5 million contract I had ran this efficiently, I would have a wonderful life. The combination of World Energy and EnergyWise Consulting has turned the headache of buying and managing power for hundreds of facilities into a non-event. Especially in an environment where I am repeatedly required to cut costs, I appreciate the savings World Energy reliably delivers. We could never afford the staff needed to buy and manage electricity across our network the way World Energy and EnergyWise do, but even if we could, I doubt we could do the job as effectively."
Added Nelson Hoover, Founder, EnergyWise Consulting: "My clients depend on me to meet their energy management challenges, so it's important that I have the best solutions in the market at my disposal. That's why I have teamed with World Energy over the years as my energy-procurement partner across my portfolio. As is evidenced by the results we have achieved for Presbyterian Senior Living, World Energy deepens my capabilities as an energy consultant and contributes meaningfully to the success of my clients and business."
Concluded Phil Adams, CEO of World Energy Solutions, "The success of Presbyterian Senior Living's energy procurement program highlights key attributes of World Energy's winning approach. First, our auctions reliably deliver the best price in the market. They do so through a process that maximizes competition and advantages the customer. Second, our collaboration with channel partners broadens their service capabilities while extending our market reach, a win-win that results in productive long-term partnerships and loyal customers."
About Presbyterian Senior Living
Presbyterian Senior Living is a not-for-profit organization providing retirement and senior-care services for more than 85 years. Headquartered in Dillsburg, Pennsylvania, Presbyterian Senior Living provides services to approximately 6,000 seniors in 29 locations in the Mid-Atlantic region of Pennsylvania, Maryland, Ohio and Delaware. Presbyterian Senior Living fulfills its charitable purpose and mission by providing a full range of high quality healthcare, housing and other related community services directed primarily to people 55 and over. For more information, please visit www.presbyterianseniorliving.org.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (Nasdaq:XWES) is an energy technology and services firm transforming energy procurement and energy efficiency for commercial, industrial, institutional, government and utility customers. The Company's award-winning, cloud-based auction platform, the World Energy Exchange®, its team of energy experts, and a network of more than 500 suppliers and 300 channel partners form an ecosystem that enables customers to minimize their total cost of energy. To date, World Energy has transacted over $45 billion in energy, demand response and environmental commodities, creating more than $3 billion in value for its customers. For more information, please visit www.worldenergy.com.
This press release contains forward-looking statements which involve risk and uncertainties. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "forecasts," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company has based these forward-looking statements on its current expectations and projections about future events, including without limitation, its expectations of backlog and energy prices, and its expectations in growth in revenue, operating results, operating margins, and free cash flow. Although the Company believes that the expectations underlying any of its forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary materially and adversely from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to the following: the Company's revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for the Company's services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; the potential impact on the Company's historical and prospective financial results of a change in accounting policy may negatively impact its stock price; and other factors outside the Company's control that affect transaction volume in the electricity market. Additional risk factors are identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 and subsequent reports filed with the Securities and Exchange Commission. The forward-looking statements made in this press release are made as at the date hereof. Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the forward-looking statements expressed in this press release. Forward-looking statements are provided for the purpose of presenting information about management's current expectations relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, other than as required by securities laws.
CONTACT: For additional information, contact: Dan Mees World Energy Solutions (508) 459-8156 email@example.com www.twitter.com/wattsworking Nelson Hoover EnergyWise Consulting (717) 581-1900 firstname.lastname@example.org
Source:World Energy Solutions, Inc.; Presbyterian Senior Living