RENEWABLE POWER. For renewable price plans, Company will purchase and retire Renewable Energy Certificates (“RECs”) to offset the specified percentage of Customer’s anticipated electricity consumption equal to the percentage specified in the Price.
RENEWABLE POWER. The Team has conducted two auctions that resulted in at least 100 million kWh of renewable power supply awards during the past three years. In fact, contract awards to date include a total of 377 million kWh in renewable power. One of these is presented in Section 4.11 in the form of an electricity procurement for MDGS. The other procurement served various federal facilities in the Consolidated Edison Utility of New York and awards were made for over 200 million kWh of renewable and wind power. As discussed previously, the electricity procurement for MDGS in March 2004 was designed to allow the State to lock in the lowest possible cost before price caps expired July 2004. As a result of the procurement, MDGS expects cost avoidance savings in excess of $5.5 million per year or $11 million over the life of the contract. The supply contract also included 100 million kWh of environmentally friendly green power, which was obtained at no cost premium. This allowed the State to be both fiscally responsible and environmentally friendly. WORLD ENERGY SOLUTIONS PROPRIETORY INFORMATION WORLD ENERGY SOLUTIONS A press release regarding this procurement is provided in Appendix B.
RENEWABLE POWER
