FirstEnergy's Ohio utilities seek to buy SRECs and RECs

US electric utility FirstEnergy Corp (NYSE: FE) has issued a Request for Proposal (RFP) to purchase Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its subsidiaries in Ohio. The company said in a statement on Wednesday that the purchases will help meet Ohio Edison, Cleveland Electric Illuminating and Toledo Edison’s renewable energy targets for 2018. Those utilities will sign deals with winning suppliers to buy the necessary quantities of RECs and SRECs. FirstEnergy’s units are looking to purchase a total of 10,500 SRECs and 376,500 RECs. No energy or capacity will be purchased as part of this process.