World Energy Auctions Net $3.7M In Government Savings
Worcester-based World Energy Solutions Inc. announced today that its auctions have saved $3.75 million for the New England division of the U.S. General Services Administration.
World Energy conducted a series of competitive online auctions and received 150 bids from six suppliers, which resulted in two-and three-year contracts 40 percent less expensive than the 2011 contracts. The auctions procured more than 220 million kilowatt hours of electricity for 60 facilities and other federal accounts in Connecticut, Maine, New Hampshire and Rhode Island.
Among the participants in the procurement were the American Red Cross, Bureau of Prisons and Department of State and Veterans Administration.
World Energy Vice President John Harvey said 41 percent of the online bids came in the final 15 seconds of the auctions.
"The bidding activity in these auctions is among the best we have ever seen for New England government accounts," he said.
The GSA is an arm of the federal government that manages government properties and vehicles and purchases services such as energy. The agency has contracted with World Energy through 2015 to run the auctions.
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