FirstEnergy Corp. (NYSE: FE) announced that a Request for Proposal (RFP) will be issued to purchase Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – to meet the Companies’ 2014 renewable energy obligations established under Ohio’s alternative energy law.
SRECs and RECs sought in this RFP must be able to be utilized by the Companies for compliance with its 2014 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM-EIS GATS, and generated between January 1, 2012, and December 31, 2014. The following amounts are being sought through the RFP:
- 5,100 SRECs
- 250,000 RECs
One SREC represents the environmental attributes of one megawatt hour of generation from a solar renewable generating facility qualified by the PUCO. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.
The RFP is a competitive process managed by Navigant Consulting, Inc., an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities are expected to enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs and SRECs.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications, and must be able to prove their SREC or REC generating facilities are certified or in the process of becoming certified by the PUCO.
Navigant, the independent RFP manager, has established a website to provide bidders with a central source of documents, data and other information for the RFP process. This information is available at www.FEOhioRECRFP.com.
On October 29, 2014, at 11:00 a.m. EDT, the FirstEnergy Ohio utilities and their consultant, Navigant, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications and proposals by December 3, 2014, before5 p.m. EST.
The RFP Manager is Dan Bradley, Director, Navigant Consulting, Inc. He can be reached via email at[email protected].
Image: Wind Turbine in Bowling Green, Ohio Fogonthedowns at the English language Wikipedia [GFDL or CC-BY-SA-3.0], from Wikimedia Commons
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.