FirstEnergy Ohio Utilities to Procure Renewable Energy Credits Through Request for Proposal Process
July 15 2009 - 6:20PM
PR Newswire (US)
AKRON, Ohio, July 15 /PRNewswire-FirstCall/ -- FirstEnergy Corp.
(NYSE: FE) announced that a Request for Proposal (RFP) will be
conducted to secure renewable energy credits (RECs) for customers
of its Ohio utilities - Ohio Edison, Cleveland Electric
Illuminating Company and Toledo Edison - to help meet the renewable
energy requirements established under Ohio's new energy law.
"Purchasing RECs helps us meet the renewable energy requirements
established by the State of Ohio and also helps build a market for
renewable energy projects throughout the region," said John
Paganie, vice president, Customer Service & Energy Efficiency,
FirstEnergy. The RFP is seeking RECs for FirstEnergy's Ohio
utilities for 2009, 2010 and 2011. The RECs being solicited
include: -- Solar - Ohio only -- Solar - Ohio and contiguous states
-- Renewables - Ohio only -- Renewables - Ohio and contiguous
states No energy or capacity will be purchased under the RFP. The
number of individual bidders is not limited. Participants must meet
and maintain specific credit and security qualifications, and must
be able to prove their RECs are certified or in the process of
becoming certified by the State of Ohio. The companies established
a Web site to provide bidders with a central source of documents,
data and other information for the RFP process. This information is
available by accessing
http://www.firstenergyrenewable.com/2009OhioRFP. Questions will be
answered directly through the Web site. To participate in the RFP,
bidders must submit credit information by July 27, 2009, with
proposals due by August 7, 2009. The RFP process will be managed by
Navigant Consulting, a global consulting firm with expertise in
energy markets and procurement. The RFP Manager is Leah Bissonette,
director, Navigant Consulting. She can be reached at (516)
876-4036, or email at . FirstEnergy is a diversified energy company
headquartered in Akron, Ohio. Its subsidiaries and affiliates are
involved in the generation, transmission and distribution of
electricity, as well as energy management and other energy-related
services. Its seven electric utility operating companies comprise
the nation's fifth largest investor-owned electric system, based on
4.5 million customers served, within a 36,100-square-mile area of
Ohio, Pennsylvania and New Jersey; and its generation subsidiaries
control more than 14,000 megawatts of capacity. Forward-Looking
Statements: This news release includes forward-looking statements
based on information currently available to management. Such
statements are subject to certain risks and uncertainties. These
statements include declarations regarding our management's intents,
beliefs and current expectations. These statements typically
contain, but are not limited to, the terms "anticipate,"
"potential," "expect," "believe," "estimate" and similar words.
Forward-looking statements involve estimates, assumptions, known
and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Actual
results may differ materially due to the speed and nature of
increased competition in the electric utility industry and
legislative and regulatory changes affecting how generation rates
will be determined following the expiration of existing rate plans
in Pennsylvania, the impact of the PUCO's regulatory process on the
Ohio Companies associated with the distribution rate case, the
impact of the competitive generation procurement process in Ohio,
economic or weather conditions affecting future sales and margins,
changes in markets for energy services, changing energy and
commodity market prices and availability, replacement power costs
being higher than anticipated or inadequately hedged, the continued
ability of FirstEnergy's regulated utilities to collect transition
and other charges or to recover increased transmission costs,
maintenance costs being higher than anticipated, other legislative
and regulatory changes, revised environmental requirements,
including possible greenhouse gas emission regulations, the
potential impacts of the U.S. Court of Appeals' July 11, 2008
decision requiring revisions to the CAIR rules and the scope of any
laws, rules or regulations that may ultimately take their place,
the uncertainty of the timing and amounts of the capital
expenditures needed to, among other things, implement the AQC Plan
(including that such amounts could be higher than anticipated or
that certain generating units may need to be shut down) or levels
of emission reductions related to the Consent Decree resolving the
NSR litigation or other potential regulatory initiatives, adverse
regulatory or legal decisions and outcomes (including, but not
limited to, the revocation of necessary licenses or operating
permits and oversight) by the NRC (including, but not limited to,
the Demand for Information issued to FENOC on May 14, 2007),
Met-Ed's and Penelec's transmission service charge filings with the
PPUC, the continuing availability of generating units and their
ability to operate at or near full capacity, the ability to comply
with applicable state and federal reliability standards, the
ability to accomplish or realize anticipated benefits from
strategic goals (including employee workforce initiatives), the
ability to improve electric commodity margins and to experience
growth in the distribution business, the changing market conditions
that could affect the value of assets held in FirstEnergy's nuclear
decommissioning trusts, pension trusts and other trust funds, and
cause it to make additional contributions sooner, or in an amount
that is larger than currently anticipated, the ability to access
the public securities and other capital and credit markets in
accordance with FirstEnergy's financing plan and the cost of such
capital, changes in general economic conditions affecting the
company, the state of the capital and credit markets affecting the
company, interest rates and any actions taken by credit rating
agencies that could negatively affect FirstEnergy's access to
financing or its costs and increase its requirements to post
additional collateral to support outstanding commodity positions,
letters of credit and other financial guarantees, the continuing
decline of the national and regional economy and its impact on
FirstEnergy's major industrial and commercial customers, issues
concerning the soundness of financial institutions and
counterparties with which FirstEnergy does business, and the risks
and other factors discussed from time to time in its SEC filings,
and other similar factors. The foregoing review of factors should
not be construed as exhaustive. New factors emerge from time to
time, and it is not possible for management to predict all such
factors, nor assess the impact of any such factor on its business
or the extent to which any factor, or combination of factors, may
cause results to differ materially from those contained in any
forward-looking statements. FirstEnergy expressly disclaims any
current intention to update any forward-looking statements
contained herein as a result of new information, future events, or
otherwise. DATASOURCE: FirstEnergy Corp. CONTACT: News Media, Mark
Durbin, +1-330-761-4365, or Investors, Ron Seeholzer,
+1-330-384-5415, both of FirstEnergy Web Site:
http://www.firstenergycorp.com/
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