About REC RFP

On October 16, 2023 FEOU 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’ 2023 renewable energy targets established under Ohio’s alternative energy law. RECs sought in this RFP must be eligible for compliance with the companies’ 2023 renewable energy obligations, be sourced from generating facilities certified 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, 2021, and December 31, 2023. The companies plan to purchase 570,000 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 the RECs is recovered from the utility’s standard service offer customers through a monthly charge filed quarterly with the PUCO. No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO.

The RFP is a competitive process managed by CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs.