FirstEnergy Ohio Utilities Launch Request for Proposal for 2021 Renewable Energy Credits
On October 4, 2021, FirstEnergy Corp. (NYSE: FE) issued an RFP to acquire Ohio-compliant Renewable Energy Credits (RECs) for its Ohio utilities, aiming to fulfill 2021 renewable energy targets mandated by Ohio's alternative energy law. The RFP seeks 426,600 RECs from certified facilities, deliverable through the PJM Environmental Information System. Bidders must maintain specific credit qualifications. A webinar is scheduled for October 11, 2021, to detail the RFP process. Proposals are due by November 10, 2021, at 5 p.m. EPT. More information is available on the designated RFP website.
- Launch of RFP for 426,600 RECs to meet 2021 renewable energy targets.
- Opens opportunities for various bidders to participate.
- Engagement with a reputable consultant, Guidehouse, for a competitive procurement process.
- None.
AKRON, Ohio, Oct. 4, 2021 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2021 renewable energy targets established under Ohio's alternative energy law.
RECs sought in this RFP must be eligible for compliance with the companies' 2021 renewable energy obligations, be sourced from generating facilities certified in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS), and generated between January 1, 2019, and December 31, 2021. The companies plan to purchase 426,600 RECs, which can include solar renewable energy credits.
One REC represents the environmental attributes of one megawatt hour 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. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO.
The RFP is a competitive process managed by Guidehouse Inc. ("Guidehouse"), an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs.
FirstEnergy's Ohio utilities have a website, http://www.FEOhioRECRFP.com, to provide bidders with a central source of documents, data and other information for the RFP process.
On October 11, 2021, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, Guidehouse, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications by November 2, 2021, and proposals are due November 10, 2021, by 5 p.m. EPT.
The RFP Manager is Dan Bradley, Partner at Guidehouse. He can be reached via e-mail at manager@FEOhioRECRFP.com.
FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
FAQ
What is the purpose of FirstEnergy's RFP issued on October 4, 2021?
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