Jun
08
2010
Detroit Edison REC Purchases Approved
by Bruce Goodman
In December 2008, Detroit Edison issued an RFP for renewable energy credit (REC) contracts from Michigan sources. It received 43 proposals from 11 suppliers. In April, the MPSC approved the third REC contract submitted by Detroit Edison, this one with Boyce Hydro Power, LLC. The average price for the seven-year sale covering four hydro facilities on the Tittabawassee River is $7.75 per REC, well below the $12.46 average price of the first two contracts. The Boyce contract calls for 210,000 RECs per year, with an additional purchase of 112,000 RECs depending on generation. Detroit Edison has previously projected REC prices for twenty-year contracts at $15.66 per REC.
