May 2016

Atlantic City Electric, JCP&L and Rockland Electric Issue Fourth 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 fourth 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 fourth 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 – 1,586 kW
2. ACE – 539 kW
3. RE – 400 kW

Segment 2: Net metered projects greater than 50 kW (due to the previous rounds being undersubscribed the 2MW cap has been lifted):

1. JCP&L – 11,841 kW
2. ACE – 7,725 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.

Consolidated Bid Applications must be submitted by 5:00 PM on July 8, 2016.

The program continues to be undersubscribed. The results from the third solicitation are as follows:

Segment 1: Residential and Small Commercial (50 kW and below):
- 3 bids were received totaling 116.5 kW and 2 awards were made, totaling 78.1 kW. The average price per SREC was $239.66.

Segment 2: Residential and Commercial (greater than 50 kW up to 2 MW):
- 10 bids were received totaling and 10 awards were made totaling 3,546.74 kW. The average price per SREC was $229.82.

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 | skisker@csglaw.com | (973) 530-2074