PECO Files to Meet Future Renewable Energy Requirements

PECO took the first steps in fulfilling the ambitious Alternative Energy Portfolio Standards (AEPS) requirements enacted in 2004, through a petition filed with the Pennsylvania Public Utility Commission (PA PUC).

The AEPS legislation requires that by 2011, 3.5 percent of the energy consumed by PECO customers is provided through renewable resources — such as wind, methane gas and biomass. With a required 1/2 percent annual increase in its renewable requirement, by 2020 PECO must ensure that renewable resources make up 8 percent of the energy consumed by customers. PECO plans to meet its initial requirements now by purchasing the equivalent of 240 megawatts (450,000 megawatt hours (MWh)/ year) of renewable energy credits for five years. These credits are sold by renewable energy generators on a one-to-one basis each time 1 MWh of renewable energy is produced. “By purchasing the credits now, and banking them to meet future requirements, we can take advantage of current market prices,” said Denis O’Brien, president of PECO. If approved by the PUC, PECO would be the first utility in the state to take action, continuing to demonstrate the company’s environmental leadership.
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