Atlantic City Electric/ Jersey Central Power and Light
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In March 2009, NJBPU approved programs at Jersey Central Power and Light (JCP&L) and Atlantic City Electric (ACE) that will provide for long-term contracts for SRECs that the utilities will purchase from solar projects selected through a competitive bidding process in their service territories.
On June 29, 2009, JCP&L and ACE selected National Economic Research Associates, Inc. (NERA) to perform the solicitation management functions associated with the companies' SREC-based financing programs approved by the BPU. NERA has launched a web site, njedcsolar.com, which will serve as the primary source of information for the JCPL/ACE program. On the website you can sign up for NERA's mailing list to receive updates and information, and also submit questions and read FAQs.
On September 30, 2009, NJBPU announced the initial results of the utility solar financing programs run by JCP&L and ACE. JCP&L awarded seven long-term contracts to purchase SRECs generated from nearly 1.6 MW of new solar capacity. The average contracted price for the resulting SRECS is just under $410 each.
On January 25, 2010, NJBPU announced the intial results of the second solicitation of the utility solar financing program. This second solicitation also included Rockland Electric Company. ACE awarded ten contaracts to purchase SRECs generated from 2.19 MW of new solar capacity, JCP&L awarded twenty seven contracts to 4.17 MW of capacity, and RECO awarded two contracts to 149 kW of capacity. The average price for SRECs was $405.
Bids for the third solicitation are due on March 5, 2010.
Supporting Documents