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
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 rfp@navigantconsulting.com.
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.
SOURCE 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
(FE)