World Energy Solutions, Inc., the leading operator of online exchanges for energy, today announced the official launch of the World Green Exchange, an auction platform for environmental commodities.
Since 2003, World Energy has transacted nearly 1 billion kilowatt hours of green power over its award winning World Energy Exchange. Seeing the need for an auction platform for environmental commodities, World Energy has adapted its World Energy Exchange auction technology and proven process to create a trusted and transparent marketplace in which to buy or sell green power, RECs, VERs and carbon offsets - the World Green Exchange.
In past months, World Energy has successfully completed several pioneering transactions in the renewable energy, green credit and carbon markets space:
- Green power - A reverse auction for renewable energy yielded a 17 percent greening of the State of Connecticut's overall energy portfolio, causing the EPA to cite the state government as one of the greenest in the country.
- Renewable Energy Certificates - For a Midwest utility, World Energy sourced RECs at an 8% discount to the utility's price target.
- Solar Renewable Energy Certificates - MMA Renewable Ventures ran a forward auction for 1500 solar renewable energy certificates, earning a premium over prevailing bid-ask prices.
- Voluntary Emission Reductions - Atmosclear, an organization committed to providing offsets to help consumers and businesses reduce their contribution to global warming, was able to sell 75,000 metric tonnes of VERs at a 20% premium in a forward auction.
- Carbon emission compliance - Verdant Energy, a leading Canadian power supplier, auctioned off 80,000 metric tonnes of carbon offsets under the recently established Alberta Offset System - the first compliance-based auction of carbon offsets in North America. The forward auction yielded a price significantly higher than prices quoted to Verdant before the auction.