PHILADELPHIA (January 11, 2008) – PECO is inviting alternative energy producers to submit bids to sell alternative energy “credits” to help the company fulfill renewable energy requirements set by Pennsylvania’s recent Alternative Energy Portfolio Standards (AEPS) legislation.

The AEPS legislation requires that by 2011, 3.5 percent of the energy consumed by PECO customers be provided through renewable resources such as wind, low-impact hydro, methane, geothermal, biomass or fuel cells.  Renewable energy generators sell these credits on a one-to-one basis each time that they produce one megawatt-hour of renewable energy.

By seeking bids through a competitive Request for Proposal (RFP) process, PECO intends to enter into fixed-price, five-year agreements to purchase up to a total of 250,000 credits per year. PECO anticipates entering into the agreements by this spring, for delivery beginning no later than Dec. 31, 2008. A second round of bidding this fall will seek the purchase of an additional 200,000 credits annually, for delivery beginning no later than Dec. 31, 2009.  Taken together these purchases will have the same benefit to the environment as planting more than 33 million trees, or alternatively, not driving 428 million miles.

PECO has retained Navigant Consulting to serve as an independent RFP monitor. The monitor will oversee PECO’s bidder evaluation process, evaluate bid proposals, and report to the Pennsylvania Public Utility Commission (PUC) on the results of the RFP process. The PUC approved PECO’s plan to satisfy the renewable energy requirements last month.

PECO has scheduled a teleconference for Tuesday, Jan. 22 to outline the details of the RFP process and the terms of the agreements.  Suppliers who wish to learn more about the bidding process must send an e-mail to AEPS_RFP@peco-energy.com with the subject line ‘AEC Bidder Teleconference’ in order to obtain information on how to participate in this procurement PECO will release information on the RFP process to interested parties as it becomes available. Additional AEPS RFP information is available online at www.peco.com/aeps.