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For Immediate Release
Tedeschi Food Shops Stocks Up on Low-Cost Electricity
through World Energy Solutions
Retailer Secures New 36-Month Power Contracts, Netting Over $400,000 in Savings
for 157 Massachusetts Stores
Rockland and Worcester, MA – January 20, 2011 – World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, announced today that it has helped Tedeschi Food Shops successfully secure new electricity contracts for 157 of its stores in Massachusetts. Through a series of competitive auctions run on the World Energy Exchange®, World Energy has enabled Tedeschi Food Shops to lock in attractive rates from February 1, 2011 through January 31, 2014, providing the retailer valuable budget certainty and potential savings in excess of $400,000 over its prior rates.
In advance of the auctions, World Energy worked closely with Tedeschi Food Shops to understand its energy needs across its business and develop an appropriate go-to-market strategy. Acting on Tedeschi’s behalf, World Energy collected usage data from all the retailer’s Massachusetts locations, more than 200 accounts in total, and synthesized that information into electronic RFPs marketed to the supplier community. This expert preparation contributed to a highly liquid, competitive, and transparent event that attracted multiple suppliers behind two different utility service territories, ultimately delivering the retailer excellent price discovery and favorable contract terms.
“Sourcing power effectively for this many locations, accounts, and service territories is very challenging,” said Bob McGann, Vice President, Store Development, Tedeschi Food Shops. “World Energy did a great job of listening to us and simplifying the process so we could capitalize on favorable market conditions, lock in long-term fixed rate contracts and really take control of our energy spend.”
Added Phil Adams, President, World Energy Solutions: “Less than 10 percent of B2B energy buyers are availing themselves of technology-based approaches to extract the best price from the market. As a result, they are leaving money on the table and often settling for terms that don’t advance their business goals. Tedeschi Food Shops serves as a powerful reminder that a more strategic approach to energy management pays dividends.”
Tedeschi Food Shops continues to work with World Energy as it explores opportunities for further energy savings and budget certainty for its stores in New Hampshire and Rhode Island. Additionally, the retailer is considering reinvesting its recent savings in renewable energy, building on its current efficiency initiatives that include the implementation of white roofs, LED lighting and more energy-efficient equipment.
About Tedeschi Food Shops, Inc.
Established in 1923 in Rockland, Massachusetts, Tedeschi Food Shops, Inc. is one of New England’s most trusted family-owned and operated convenience store chains, with more than $600 million in annual revenue and over 2,000 employees. The company operates 189 convenience store locations throughout Massachusetts, New Hampshire, Rhode Island, and Connecticut.
Tedeschi Food Shops prides itself on providing its customers with a family of quality proprietary brands: TD’s Deli and TD’s Deli Always Fresh To Go, Tedeschi Select, and Tedeschi Fuel.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE) is an energy management services firm that applies an award-winning combination of people, process and technology to help clients manage energy as a strategic asset. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its Government, Commercial & Industrial, and Utility customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Green Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative’s (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
For additional information, contact:
World Energy Solutions, Inc.
Tedeschi Food Shops, Inc.
The Investor Relations Group
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