Akron-based FirstEnergy Corp. said a successful long-term request for proposal for renewable energy credits ("RECs") and solar renewable energy credits ("SRECs") has brought its Ohio utilities -- Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison -- into full compliance with the state's renewable portfolio standard ("RPS") for 2011. The RFP sought and procured the delivery of 5,000 SRECs and 20,000 RECs produced by generating facilities throughout Ohio for each calendar year beginning in 2011 and continuing through 2020.
"The robust participation in this RFP is evidence of a maturing renewable energy credit market throughout Ohio," said Dennis Chack, President of Ohio operations for FirstEnergy, in a news release. "There were 28 qualified bids received, offering more than two times the required number of SRECs and over four times the required number of RECs, and many of the credits are originating in Toledo, Cleveland and other cities in our service area."
FirstEnergy sought and received a waiver from the Public Utilities Commission of Ohio of its in-state solar requirement under Ohio's RPS earlier this year after arguing that Ohio's solar market was still too underdeveloped to meet the law's requirements. With the apparent success of this RFP, FirstEnergy has canceled plans for a second 10-year RFP for SRECs. Its filing with the PUCO canceling the second RFP is available here.