FirstEnergy seeks to buy RECs for Ohio utilities

Solar panels.

October 1 – Three Pennsylvania utilities owned by FirstEnergy Corp (NYSE:FE) are in pursuit of Ohio-compliant Renewable Energy Credits (RECs) in order to meet obligations under the state’s renewable energy mandate.

FirstEnergy said on Wednesday a Request for Proposal (RFP) has been issued for the purchase of 373,000 RECs, including solar RECs, by the three utilities — Ohio Edison, The Illuminating Company and Toledo Edison.

Parties willing to take part in the competitive process are invited to submit applications by November 2, 2020. Proposals are due by November 10, 2020.

The RfP is not tied to the purchase of electricity or power generation capacity. Eligible RECs should be in compliance with the companies’ 2020 renewable energy obligations and be generated between January 1, 2018 and December 31, 2020. 

The competition is managed by independent consulting firm Guidehouse Inc.