FirstEnergy Seeking Additional Renewable Energy Credits for Ohio Utilities
September 02 2009 - 4:01PM
PR Newswire (US)
AKRON, Ohio, Sept. 2 /PRNewswire-FirstCall/ -- FirstEnergy Corp.
(NYSE: FE) announced that a second 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. The RECs, combined with
those acquired in an initial RFP conducted earlier this year, will
be used to help meet the renewable energy requirements established
under Ohio's new energy law for 2009, 2010, and 2011. The second
RFP will focus on solar and other renewable energy RECs generated
in Ohio. Bidding information will be available at
http://www.firstenergyrenewable.com/2009OhioRFP2. Questions will be
answered directly through the Web site. To participate, bidders
must submit bids and credit information by October 14, 2009. The
RFP process is 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 . No energy or capacity
will be purchased under this RFP. The number of individual bidders
is not limited. Participants must prove their RECs are certified or
in the process of becoming certified by the Public Utilities
Commission of Ohio. Information on the PUCO's certification process
can be found at
http://www.puco.ohio.gov/PUCO/Forms/Form.cfm?id=9464. 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 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 Public Utilities Commission of Ohio's regulatory process on
the Ohio Companies associated with the distribution rate case,
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 Clean Air Interstate 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
Air Quality Compliance 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 New Source Review litigation or other
similar potential regulatory initiatives or actions, adverse
regulatory or legal decisions and outcomes (including, but not
limited to, the revocation of necessary licenses or operating
permits and oversight) by the Nuclear Regulatory Commission,
Metropolitan Edison Company's and Pennsylvania Electric Company's
transmission service charge filings with the Pennsylvania Public
Utility Commission, 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 or 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 the
company'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 Securities and
Exchange Commission 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 FirstEnergy's 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 Contact: Mark Durbin, +1-330-761-4365,
Investor Contact:: Ron Seeholzer, +1-330-384-5415 Web Site:
http://www.firstenergycorp.com/
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