READING, Pa., Jan. 14, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced that a Request for Proposal (RFP) will be issued to purchase 120,500 Solar Photovoltaic Alternative Energy Credits (SPAECs) annually over a two-year period on behalf of three FirstEnergy Pennsylvania utilities – Pennsylvania Power Company (Penn Power), Pennsylvania Electric Company (Penelec), and Metropolitan Edison Company (Met-Ed).
The RFP process will be conducted by The Brattle Group and will take place in January and February, with qualifying applications due by February 5, 2019, and bids due by February 27, 2019. Bidders in this RFP can offer to sell tranches of SPAECs, where each tranche represents a commitment to sell 500 SPAECs annually over a two-year period (with deliveries beginning in 2019). Based on the RFP results, FirstEnergy's Pennsylvania utilities will enter into separate agreement(s) with winning suppliers to purchase the necessary quantities of SPAECs.
Further information about the SPAEC RFP is available on FirstEnergy's website at www.firstenergycorp.com/PA2019SPAECRFP.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.