UPDATE – PECO sets proposal deadline for renewable energy credits

PECO Energy Co. seeks proposals from alternative energy producers to supply energy credits to help the utility meet renewable energy requirements set by Pennsylvania’s Alternative Energy Portfolio Standards. Notices of intent to bid are due Jan. 29, followed by proposals March 13.

PECO, an Exelon company, released details of the request for proposals Jan. 22. (HNN 1/16/08)

The Alternative Energy Portfolio Standards require that by 2011, 3.5 percent of the energy consumed by PECO customers be provided from renewable resources such as �low-impact� hydro, wind, methane, geothermal, biomass, and fuel cells. Solar is excluded from the current solicitation. Energy generators sell the credits on a one-to-one basis each time they produce 1 MW from renewables.

PECO said it intends to enter into fixed-price, five-year agreements for contract amounts greater than 1,000 alternative energy credits annually, per bid. The maximum target for the RFP is 250,000 credits annually. Delivery is to begin by Dec. 31, 2008, for facilities that have not achieved commercial operation. A second round of bidding in late 2008 will seek 200,000 more credits annually, for delivery beginning no later than Dec. 31, 2009.

PECO has retained Navigant Consulting Inc. to serve as an independent monitor to oversee the bidder evaluation process, evaluate bid proposals, and report to the Pennsylvania Public Utility Commission. The state regulatory commission in December 2007 approved PECO’s plan to satisfy the renewable energy requirements.

Non-binding notices of intent to bid are due Jan. 29. Bidder applications are due Feb. 27, followed by the March 13 due date for proposals. PECO said it plans to notify selected bidders March 21, and execute agreements April 7.

Proposal forms and templates, a presentation to bidders outlining details of the RFP process, and associated information are on the Internet at www.peco.com/aeps.

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