Boston, MA 09/25/2014 (wallstreetpr) – FirstEnergy Corp. (NYSE:FE) has announced that it is to purchase up to 48,500 Solar Photovoltaic Alternative Energy Certificates (SPAECs) on behalf of it’s three utilities. The Brattle Group has been appointed to oversee the entire Request for Proposal (RFP) process while the bidding process is expected to start on the 6th of November.
RFP Requirements
Interested bidders have been notified that qualification applications have to be tabled by the 16th of October. Prospective bidders for the RFP may offer to sell up to 500 SPAECs annually over a two-year period. FirstEnergy Corp. (NYSE:FE) is carrying out the Request for Proposal on behalf of Pennsylvania Power, Pennsylvania utilities and the Metropolitan Edison Company.
Upon the completion of the RFP process, the utilities are expected to enter into separate agreements with whichever supplier that wins the bid for the necessary quantities of SPAEC’s. The announcement of the RFP process comes barely days after reports emerged that the company was planning to amend its energy efficiency programs
Amendment of Energy Efficiency Programs
Amendments are expected to give customers the ability to opt out of energy efficiency programs whenever they feel like. The move is expected to weaken state’s energy efficiency standards. FirstEnergy Corp. (NYSE:FE) has for the longest time been trying to convince lawmakers to change the old laws that require utilities educate people on ways of using less electricity while also buying more electricity from wind farms and solar arrays.
Lawmakers in Ohio have already instituted a committee that is to analyze ways in which the efficiency laws can be changed. The main concern at the moment is the fact that the company is planning to allow large customers to pull out of the efficiency programs without mentioning what will happen to small consumers. FirstEnergy Corp. (NYSE:FE) argues that energy efficiency programs should at all times be customer driven.
