FirstEnergy Corp. says it will soon formally issue a request for proposals (RFP) to purchase 120,500 Solar Photovoltaic Alternative Energy Credits (SPAECs) annually over a two-year period on behalf of three FirstEnergy Pennsylvania utilities: Pennsylvania Power Co. (Penn Power), Pennsylvania Electric Co. (Penelec) and Metropolitan Edison Co. (Met-Ed).
The RFP process will be conducted by The Brattle Group and will take place in January and February, with qualifying applications due by Feb. 5, 2019, and bids due by Feb. 27, 2019.
Bidders in this RFP can offer to sell tranches of SPAECs, where each tranche represents a commitment to sell 500 SPAECs annually over a two-year period (with deliveries beginning in 2019). Based on the RFP results, FirstEnergy’s Pennsylvania utilities will enter into separate agreements with winning suppliers to purchase the necessary quantities of SPAECs.
Further information about the SPAEC RFP is available on FirstEnergy’s website.