FirstEnergy Corp. has announced a request for proposals (RFP) to purchase Ohio-compliant renewable energy credits (RECs) – as well as solar renewable energy credits (SRECs) – for its Ohio utilities: Ohio Edison, Cleveland Electric Illuminating and Toledo Edison.
The purchases will help meet the companies’ 2016 renewable energy targets established under Ohio’s alternative energy law.
SRECs and RECs sought in this RFP must be able to be used by the companies for compliance with its 2016 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), deliverable through PJM-EIS GATS, and generated between Jan. 1, 2014, and Dec. 31, 2016. The RFP is seeking 6,500 SRECs and 230,000 RECs.
As FirstEnergy explains, one SREC represents the environmental attributes of 1 MWh of generation from a solar renewable generating facility qualified by the PUCO, while one REC similarly represents the environmental attributes of 1 MWh 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.
No energy or capacity will be purchased under the RFP, and the number of individual bidders is not limited. The RFP is a competitive process managed by Navigant Consulting Inc., an independent evaluator and a global consulting business. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs and SRECs.
To participate in the RFP, potential bidders are encouraged to submit credit applications by Oct. 31, and proposals are due Nov. 7 by 5 p.m. EPT. The FirstEnergy Ohio utilities have established a website to provide bidders with a central source of documents, data and other information for the RFP process, www.FEOhioRECRFP.com.
