AKRON, Ohio, Sept. 30, 2020 /PRNewswire/ — FirstEnergy Corp. (NYSE: FE) today issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies’ 2020 renewable energy targets established under Ohio’s alternative energy law.
RECs sought in this RFP must be eligible for compliance with the companies’ 2020 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS), and generated between January 1, 2018, and December 31, 2020. The companies plan to purchase 373,000 RECs, which can include solar renewable energy credits.
One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of