World Energy Solutions finalizes procurement for Texas firm
World Energy Solutions in Worcester has completed a power procurement for Austin Energy, purchasing 664.8 million kilowatt hours of on-call electricity supply through the World Energy Exchange.
World Energy Solutions, an energy brokerage firm that uses an online auction system for energy related products, was tapped by the Texas-based electric utility to find a replacement supply for 2008-2010, as the utility plans to retire its 358 megawatt power plant in 2007.
This is the second time Austin Energy has used World Energy Solutions, following a transaction in September of last year when the community-owned utility ran four bidding scenarios to see which would result in the lowest price.
"To serve our initial utility clients, we have optimized our World Energy Exchange for wholesale transactions - enabling both buying and selling of energy, creating a version clients can self-administer, and adding a whole cadre of new suppliers - both physical and financial," said Phil Adams, World Energy COO.
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