FirstEnergy Corp. (NYSE: FE) announced that a Request for Proposal (RFP) will be conducted to secure 10-year Renewable Energy Credits (RECs) and Solar Renewable Energy Credits (SRECs) for customers of its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – to help meet the renewable energy benchmarks established under Ohio's energy law.
The RFP seeks delivery of 5,000 SRECs and 20,000 RECs produced by generating facilities in Ohio for each calendar year beginning in 2011 and continuing through 2020. RECs and SRECs represent the environmental attributes of renewable and solar renewable electricity generation, respectively. For every megawatt hour of renewable or solar renewable electricity generated, an equivalent amount of RECs or SRECs are produced.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants must meet and maintain specific credit and security qualifications, and must be able to prove their RECs and/or SRECs generating facilities are certified or in the process of becoming certified by the State of Ohio.
The companies established a website to provide bidders with a central source of documents, data and other information for the RFP process. This information is available by accessing www.firstenergycorp.com/2011LongTermRECRFP. Questions will be answered directly through the website.
To participate in the RFP, bidders are encouraged to submit credit information by October 11, 2011, with full proposal information due by 3 p.m. on October 18, 2011.
The RFP process will be managed by Navigant Consulting, a global consulting firm with expertise in energy markets and procurement. The RFP Manager is Dan Bradley, Director, Navigant Consulting. He can be reached at (516) 876-4036, or email at rfp@navigant.com.
