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January 25, 2010: BPU Approves the Results of the Second Round of Bids

The New Jersey Board of Public Utilities (“Board” or “BPU”) has approved the results of the second solicitation of the SREC-Based Financing Program for ACE, JCP&L, and RECO, which was held in December 2009.  The results are as follows:

  • Forty-four (44) bids were received, totaling 7,009.628 kW.
  • Thirty-nine (39) awards were made, totaling 6,521.798 kW.
  • Five bids (5) were rejected because pricing was found not to be competitive, totaling 487.830 kW.
  • The simple average NPV of all accepted projects was $2,864.93 (corresponding to an average price of $405.15/SREC for a ten-year project).
  • The low NPV of all accepted projects is $1,926.53 (corresponding to an average price of $272.44/SREC for a ten-year project).

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