FirstEnergy Corp. announces request for proposals for Solar Photovoltaic Alternative Energy Certificates
FirstEnergy Corp. announced this week that it would issue a Request for Proposal (RFP) to purchase 71,000 Solar Photovoltaic Alternative Energy Certificates (SPAECs) annually over a two-year period on behalf of three of its Pennsylvania utilities.
FirstEnergy will purchase the credits on behalf of Pennsylvania Power Company, Pennsylvania Electric Company, and Metropolitan Edison Company.
The Brattle Group will conduct the RFP process in October and November. Applications are due by Oct. 11 and bids are due by Nov. 1.
Bidders can offer to sell tranches of SPAECs, representing a commitment to sell 500 SPAECs annually over a two-year period. The utilities will enter into separate agreements with winning suppliers to obtain the necessary quantities of SPAECs based on the results of the RFP.
