LOUISVILLE, Ky. — As part of the companies' Green Energy program, Louisville Gas and Electric Company and Kentucky Utilities Company have issued a Request For Proposals for the supply of Renewable Energy Certificates created from renewable energy resources within the Commonwealth of Kentucky.
A Renewable Energy Certificate, or REC as it's commonly known, represents the environmental benefits associated with the renewable electricity produced. A REC is issued for every megawatt-hour of electricity that is generated by a new renewable energy source. The request seeks proposals for up to 20,000 REC's per month for the period from June 2010 through December 2012.
"The regional market for renewable energy certificates has grown considerably since we started our Green Energy program three years ago," said David Huff, Director of Customer Energy Efficiency and Smart Grid Strategy for E.ON U.S., parent of LG&E and KU. "Our goal with this RFP is to ensure we continue to support renewable energy from Kentucky resources — however big or small — while balancing the costs of Kentucky RECs against the market prices."
Customers can join the LG&E and KU Green Energy program by voluntarily purchasing RECs in $5 blocks. Currently, the company guarantees it will purchase 300 kilowatt-hours for the $5. However, at the end of May, LG&E and KU will directly purchase the RECs and expects to increase the amount of RECs purchased per $5. Approximately 1,729 customers are currently enrolled in LG&E and KU's Green Energy program.
"Renewable energy costs more to develop and the purchase of certificates is a strong means of helping support and grow renewable energy sources," added Huff.
Producers of renewable energy interested in submitting a proposal must complete it by June 1, 2010.
Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve a total of 1.2 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 321,000 natural gas and 397,000 electric customers in Louisville and 16 surrounding counties. KU serves 543,000 customers in 77 Kentucky counties and five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com.
