Renewable Energy Approvals For Detroit Edison

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The Michigan Public Service Commission (MPSC) has approved a 2 MW Phase II for Detroit Edison’s customer-owned SolarCurrents Program.  Fifty percent of the renewable energy credit credits (RECs) will be purchased “up-front” for $0.20/W, with the remaining RECs purchased over the life of the system at $0.03/kWh. In a separate action at the MPSC, Detroit Edison received approval for the purchase of up to 970,000 RECs at $7 per REC from Michigan Waste Energy for years 2009 through 2024. [This is a lower price than three previously submitted REC-only purchases.] In another docket Detroit Edison received MPSC approval of a 20-year 100 MW power purchase agreement (including RECs) with Tuscola Wind II, LLC, with pricing up to $70.45 MWh for net energy delivered.  Both of these matters were decided ex parte, which means without a hearing.