FirstEnergy opens RECs purchasing round for Ohio subsidiaries
Solar power system. Author: Mountain/ \Ash. License: Creative Commons, Attribution 2.0 Generic.
US electric system operator FirstEnergy Corp (NYSE:FE) is seeking to purchase 470,000 Ohio-compliant Renewable Energy Credits (RECs) for its three local utilities in order to help them meet their obligations under Ohio’s renewable energy mandate.
The parent company has launched a Request for Proposals (RFP) and will accept offers by November 9. Potential bidders are invited to submit credit applications by November 1, FirstEnergy said on Monday.
The competition targets RECs sourced from renewable power generation facilities, including solar, certified by the Public Utilities Commission of Ohio (PUCO) and delivered through the PJM Environmental Information System Generation Attribute Tracking System (EIS GATS). The RECs should be generated between January 1, 2020, and December 31, 2022.
The RFP is being held on behalf of utilities Ohio Edison, The Illuminating Company and Toledo Edison. The process is intended to help the three companies meet their 2022 renewable energy targets.
FirstEnergy has engaged global consultancy Guidehouse Inc to manage the solicitation.
Akron, Ohio-based FirstEnergy owns 10 electric distribution companies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. It also has subsidiaries operating 24,500 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.