Wednesday, PECO, a unit of Exelon Corp. (EXC) announced that it has entered into five-year agreements for the purchase of renewable energy credits equal to 412,000 megawatt-hours of renewable energy.
The agreement, along with a similar agreement made in August 2008, brings PECO's renewable energy credit purchase to 452,000 per year, making it the first utility in the state to buy and bank renewable energy credits to meet the Pennsylvania Alternative Energy Portfolio Standards requirements.
Based on Environmental Protection Agency methodology, PECO's renewable energy credit commitment avoids carbon dioxide emissions equal to taking about 60,000 cars off the road each year.
For comments and feedback: editorial@rttnews.com