El Paso Electric Issues Request for Proposals for Renewable Energy Supply
El Paso Electric (EPE) (NYSE:EE) issued, on January 21, 2008, a Request for Proposal (RFP) to solicit competitive proposals for diverse renewable energy resources that meet the requirements of the New Mexico Renewable Energy Act (REA) and New Mexico Public Regulation Commission’s renewable portfolio standard requirements. The REA requires that EPE provide a percentage of its New Mexico retail energy sales from renewable energy resources, as represented by renewable energy certificates (RECs). EPE will consider proposals from persons and entities responding to this RFP for RECs from supply-side renewable energy resources, with or without physical delivery of the associated energy. Proposals may include:
Power purchase agreements (PPA) for capacity and /or energy delivered to EPE’s systems, with the transfer of associated RECs to EPE;
EPE’s equity purchase or equity participation in the Bidder’s new or existing renewable energy generation facility, with the transfer of associated RECs to EPE; or
Purchase agreements for RECs that evidence the procurement or acquisition of renewable energy, without physical delivery of such energy to EPE’s system, provided that the Bidder can demonstrate the associated renewable energy is contracted for delivery in New Mexico and that the energy has not been otherwise used to meet a renewable energy portfolio requirement for any other utility in any state.
The RFP is posted on EPE’s website at www.epelectric.com. Please refer to EPE’s website for RFP requirements and details and how to respond to the RFP.
The Notice of Intent to Bid is due by February 4, 2008 at 5 p.m. MT.
El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 351,000 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico. EPE has a net dependable generating capability of 1,492 MW. EPE’s common stock trades on the New York Stock Exchange under the symbol EE.