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January 27, 2016

Atlantic City Electric, JCP&L and Rockland Electric Issue Third Request for Proposals for Long Term SREC Contracts

Atlantic City Electric ("ACE"), Jersey Central Power and Light Company ("JCP&L") and Rockland Electric ("RE") have issued a third Request for Proposals ("RFP") to select solar projects that will be eligible for long term contracts for the purchase of solar renewable energy credits ("SRECs"). The RFP is the third of nine solicitations to be issued over three years. Eligible projects will be selected based on price per SREC bid. Successful projects will be eligible for a ten year SREC contract at the bid price, less transaction fees.

The RFP is soliciting projects in the following three segments:

Segment 1: Net Metered Residential and Small Commercial Less than or Equal to 50kW:

  1. JCP&L - 1,300 kW
  2. ACE - 484 kW
  3. RE - 400 kW

Segment 2: Net Metered Projects Greater than 50 kW and up to 2 MW:

  1. JCP&L - 5,440 kW
  2. ACE - 3,075 kW
  3. RE - 1,000 kW (Commercial Only)

Segment 3: Grid-Supply Projects Certified as Located on Closed Landfills, Brownfields or Areas of Historic Fill:

  1. JCP&L - 5,200 kW
  2. ACE - 2,300 kW
  3. RE - 1,500 kW

All eligible projects must not yet be operational but must have successfully completed the initial application process under the SREC Registration Program.

Applications must be submitted by 12:00 PM on February 12, 2016.

The results from the second solicitation are as follows:

Segment 1: Residential and Small Commercial (50 kW and Below):
- 13 bids were received and 11 awards were made, totaling 235.51 kW. 2 bids were rejected because pricing was found not to be competitive. The average price per SREC was $256.89.

Segment 2: Residential and Commercial (Greater than 50 kW up to 2 MW):
- 7 bids were received and 7 awards were made totaling 3,219.76 kW. The average price per SREC was $227.29.

Segment 3: Subsection T Landfills, Brownfields or Areas of Historic Fill:
- No bids were received.

If you would like more information or would like us to assist you in pursuing an RFP submission, please contact your Chiesa Shahinian & Giantomasi PC attorney or the author listed below.

Stephen A. Kisker

Chair, Renewable Energy & Sustainability Group | | (973) 530-2074