FirstEnergy Corp. issued a Request for Proposal (RFP) to buy Ohio-compliant Renewable Energy Credits (RECs) for Ohio Edison, The Illuminating Company, and Toledo Edison. The purchases are expected to help meet the utilities’ 2021 renewable energy targets established under the state’s alternative energy law.
The utility said that RECs must be eligible to comply with the companies’ 2021 renewable energy obligations, be sourced from generating facilities that meet rules set by the Public Utilities Commission of Ohio, be deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS), and be generated between the start of 2019 and the end of 2021.
The companies plan to buy 426,600 RECs, which can include solar renewable energy credits.
The utility said that one REC represents the environmental attributes of 1 MWh of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from customers through the utility’s standard service offer through a monthly charge filed quarterly with the PUCO.
No energy or capacity will be purchased under the RFP, FirstEnergy said.
The RFP is a competitive process managed by Guidehouse. Based on the results, the Ohio utilities will enter into agreements with winning suppliers to buy the RECs. More information is available here.
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