In an announcement on the web site dedicated to its request for proposal for 10-year renewable energy credit ("REC") and solar renewable energy credit ("SREC") contracts, FirstEnergy affirmed its commitment to meeting its obligations under Ohio's renewable portfolio standard ("RPS") following a recent news report indicating FirstEnergy may have triggered the RPS cost cap. The announcement is available here (pdf).
As noted here, under Ohio's RPS, a utility does not have to comply with a particular renewable energy benchmark to the extent its generation costs while satisfying the RPS exceed its generation costs absent the RPS requirements by at least 3 percent. The PUCO has opened a new docket - Case No. 11-5201-EL-RDR - to consider FirstEnergy Corp.’s cost-cap compliance.