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August 09, 2010: BPU Approves the Results of the Fourth Round of Bids
The New Jersey Board of Public Utilities (“Board” or “BPU”) has approved the results of the fourth solicitation of the SREC-Based Financing Program for ACE, JCP&L, and RECO, which was held in June 2010. The results are as follows:
- Twenty-three (23) bids were received, totaling 5,025.025 kW.
- Twenty (20) awards were made, totaling 3,931.945 kW.
- Three (3) bids totaling 1,093.080 kW were rejected because pricing was found not to be competitive.
- The simple average NPV for the recommended awards is $3,296.71 (corresponding to an average SREC price of $466.21/SREC for a ten-year contract).
- The lowest NPV for the recommended awards is $2,925.32 (corresponding to an average SREC price of $413.69/SREC for a ten-year contract).