PECO launches 6 MW competitive purchase for solar credits

Philadelphia, October 8, 2009 – PECO is looking for current and future solar energy producers to submit bids as the company seeks to purchase 6 MW of solar power.

The action is part of the company’s overall environmental efforts and supports Pennsylvania’s Alternative Energy Portfolio Standards.

PECO recently received approval from the Pennsylvania Public Utility Commission (PUC) to purchase up to 80,000 solar alternative energy credits, the equivalent of 6 MW, during 10 years.

Enough energy to power nearly 1,000 homes for 10 years, it would take about eight football fields of solar panels to produce this energy.

Through a competitive Request for Proposal process, PECO will enter into fixed-price agreements with winning bidders to purchase up to a total of 8,000 credits per year for 10 years.

PECO expects to enter into the agreements by February 2010, for delivery beginning immediately for existing projects or up to a year for projects under development.

PECO has scheduled a bidder teleconference for October 22 to outline the details of the RFP process and the terms of the agreements.

PECO has retained Navigant Consulting to serve as the independent RFP monitor. The monitor will oversee PECO’s bidder evaluation process, evaluate bid proposals, and report to the Pennsylvania PUC on the results of the RFP process.

The AEPS legislation requires that by 2011, 3.5 percent of the energy consumed by PECO customers be provided through renewable resources such as solar, wind, low-impact hydro, methane, geothermal, biomass or fuel cells. Renewable energy generators sell these credits on a one-to-one basis each time that they produce one megawatt-hour of renewable energy.

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