FirstEnergy launches effort to purchase solar, renewable energy credits in Ohio
FirstEnergy Corp. has made a Request for Proposal (RFP) to bring its Ohio utilities closer to the state’s renewable energy targets through the purchase of Solar Renewable Energy Credits (SRECs)and Renewable Energy Credits (RECs).
The Public Utilities Commission of Ohio established the new obligations earlier this year. Under their stipulations, all such energy credits sought under the RFP must be generated between Jan. 1, 2015 and Dec. 31, 2017, and be able to be utilized by companies in a manner compliant with the law. Currently, FirstEnergy is seeking 9,200 SRECs and 320,000 RECs, with a single SREC/REC representing the attributes of one megawatt hour of generation from PUCO-qualified facilities.
If approved, no energy or capacity would be purchased. Further, the cost of RECs would be recovered from utility customers through a monthly charge. FirstEnergy plans on hosting a webinar with their consultant, Navigant, today to outline both the RFP process and the terms of the agreement, while taking on questions.
In Ohio, FirstEnergy operates three utilities: Ohio Edison, Cleveland Electric Illuminating, and Toledo Edison.
