First Energy Corp RFP for Pennsylvania SREC SPAECs Clears $199.10 for 10 Year



First Energy corp’s subsidiary Pennsylvania Power Company (Penn Power) has just announced the results of its RFP for 2,200 Solar Renewable Energy Certificates SREC (SPAECs) a year for 9 years. The average price was for $199.09 per SREC. Deliveries are scheduled to begin June 2011 and end May 2020. The bidding process was conducted by the Brattle Group.
 
First Energy is required to procure SRECs under Pennsylvania’s Renewable Portfolio Standard.
 
The low price of the nine year procurement is most likely the result of the oversupplied Pennsylvania SREC market. Spot prices for PA sited SRECs are currently $120 per SREC. Winners may potentially deliver in SRECs from Delaware and Washington DC which also have an oversupply of SRECs.
 
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Flett Exchange the a leading environmental exchange and brokerage firm. Our online trading platform brings transparency, price discovery, and liquidity to Solar Renewable Energy Certificates (SRECs). Over 2,200 active clients utilize Flett Exchange to negotiate the price, quantity, and details of SRECs in a secure and seamless online trading platform. Upon each SREC transaction Flett Exchange remits immediate payment to our sellers (it’s simple sell a SREC and receive a check!) Flett Exchange operates SREC markets in NJ, PA, DE, MD, OH, CT, MA, and DC and supported by trained solar professionals with specialized knowledge and proven experience.
 
Flett Exchange brokers bilateral long-term SREC contracts between qualified counterparties. Flett Exchange buyers and sellers can secure price, quantity, and terms of SREC contracts 1-7 years in duration. Our stringent vetting process ensures that quality solar projects are presented to the market in a skillful manner. Buyers and sellers utilize Flett Exchange for long-term SREC contracts gain direct access to large pools of SRECs, while mitigating risk and locking-in profits. Please visit www.flettexchange.com to learn more about our services.


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