FirstEnergy Corp. announced Monday that a Request for Proposal (RFP) to purchase 120,500 Solar Photovoltaic Alternative Energy Credits (SPAECs) annually over two years would be issued on behalf of three FirstEnergy Pennsylvania utilities.
The three utilities are Pennsylvania Power Company (Penn Power), Pennsylvania Electric Company (Penelec) and Metropolitan Edison Company (Met-Ed).
The Brattle Group will conduct the RFP process, which will take place in January and February. Qualifying applications will be due by Feb. 5 and bids will be due by Feb. 27.
Bidders in the RFP can offer to sell tranches of SPAECs, where each tranche represents a commitment to sell 500 SPAECs annually over two years 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.
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