FirstEnergy subsidiaries to purchase solar PV alternative energy credits with help from Brattle

SunEdison recevies funding for large PV plant in Chile

The Brattle Group conducted a competitive bidding process for FirstEnergy Corp.'s (NYSE: FE) subsidiaries Metropolitan Edison Co., Pennsylvania Electric Co., and Pennsylvania Power Co. As a result, the companies successfully landed contracts for 13,500 Solar Photovoltaic Alternative Energy Credits (SPAECs) annually over a ten-year period.

The companies' revised default service plan compliance filing and results were approved by the Pennsylvania Public Utility Commission for procurement of SPAECs in an effort to meet the state's alternative energy portfolio standards.

Deliveries are scheduled to begin June 2014 and last through May 2024, costing the companies about $65.31 per SPAEC. One SPAEC represents the solar renewable energy attributes of one megawatt-hour of generation from a solar generating facility.

Costs incurred to meet solar requirements have been reflected in customer bills since January 2011.  The costs of the SPAECs purchased in the current RFP will be reflected beginning in June 2014.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...