World Energy delivers millions in savings to Maryland
The Maryland Dept. of General Services (DGS) and the University System of Maryland (USM)have completed an electric power procurement by using Worcester-based World Energy Solutions Inc.'s on-line energy auction system.
The auction-based procurement will save the State $31.3 million over a two-year period. By using the World Energy Solutions Energy Exchange to draw competing bids from energy suppliers, Maryland purchased 1.4 billion kilowatt hours of electricity. The transaction represents one of its largest electricity procurements ever.
Maryland has enlisted the services of the energy brokerage in the past, saving an estimated $49.8 million in electricity costs through the Energy Exchange, says Carl LaVerghetta, DGS director of procurement.
In the joint purchase by the DGS and the USM, electricity was purchased for more than 4,300 accounts which includes state office buildings, Baltimore City Community College, the Maryland Dept. of Transportation, and the Dept. of Public Safety and Correctional Services, among several others.
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