World Energy Solutions, a leading energy management services firm and approved energy services provider in the TIPS/TAPS purchasing program, today announced that the company has successfully procured over 62 million kWh of electricity for Abilene Independent School District (AISD), a public school district serving over 17,000 students in Abilene and Impact, Texas.
Abilene ISD was able to test market prices for various electricity terms and products in an efficient and transparent manner through a series of online auctions run on the World Energy Exchange®. The competitive event attracted twelve suppliers overall, who submitted more than 120 bids fir AISD's business in a period of one hour. Resulting in a new 36-month electricity contract, the auction is expected to save the school district more than $1.4million. Under the new contract terms, delivery is slated to begin June 2014.
"With our existing electricity contract in force through May 2014, World Energy helped us get aggressive and proactively price the market to find and secure a great rate for our future energy needs," commented Scott McLean, Associate Superintendent of Operations, Abilene Independent School District. "World Energy was able to attract a dozen energy suppliers to compete for our business. Building on that participation, the transparency of the online auction helped us see how the suppliers priced the various products and terms we were interested in, while the structure of the auctions drove participants to deliver their best prices.
"I really appreciate how transparent and data-driven World Energy's process is. I saw every bid submitted by every supplier; could easily calculate savings based on relevant comparisons; and had all the documentation on hand at the conclusion of the auction to make a quick and informed buying decision. In addition, we were able to leverage World Energy's TIPS/TAPS contracting vehicle for this procurement, which made it easy for us to take our energy requirements out to market. Previously we relied on energy brokers to forward a recommendation to us without actually seeing for ourselves how the bids came in. I can say with great confidence that World Energy's online auction process is a big improvement and left no doubt decisions were made based upon actual market conditions."
Brian Dafferner, Vice President of ERCOT at World Energy Solutions, stated, "Teaming with Abilene ISD to deliver great results for the school district is an important win for World Energy and a bellwether procurement in the State of Texas. The AISD electricity procurement showcases the power and value of our online auction approach: twelve bidders, 120+ bids in one hour, total transparency. That's a new paradigm for Texas energy buyers, one that should shake up the status quo."
World Energy's Texas operations include offices in Dallas, Fort Worth, and Houston, with additional sales personnel throughout the State. For more information on World Energy Solutions, visit www.worldenergy.com.
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