Business & Finance
Tue, February 14, 2012Mon, February 13, 2012Sun, February 12, 2012Sat, February 11, 2012Fri, February 10, 2012Thu, February 9, 2012Wed, February 8, 2012Tue, February 7, 2012PGamp;;E Announces Record Solicitation for Renewable Energy
Published in Business and Finance on Thursday, February 9th 2012 at 14:11 GMT by Market Wire
PG&E Announces Record Solicitation for Renewable Energy -- SAN FRANCISCO, Feb. 9, 2012 /PRNewswire/ --
PG&E Announces Record Solicitation for Renewable Energy
Utility Examining Most Viable and Cost-Effective Offers From a Highly Competitive Field
SAN FRANCISCO, Feb. 9, 2012 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) announced today that its 2011 solicitation for new supplies of renewable energy brought in more than 300 offers, a new record for the utility. PG&E's energy procurement staff are reviewing them closely to determine the most viable and cost-effective projects to meet customers' long-term clean-energy needs.
"The highly competitive proposals we received offer affordable power to help us achieve the state's renewable energy targets," said Fong Wan, Senior Vice President for Energy Procurement at PG&E. "The tremendous response to our request reflects the robust supplies being offered by the renewable energy industry, which California has fostered through its aggressive state mandates."
Since 2002, PG&E has signed more than 110 contracts for about 10,000 megawatts of renewable power. PG&E now expects to be able to meet California's Renewables Portfolio Standard, which requires all retail sellers of electricity to deliver 33 percent of their electricity by 2020 from eligible renewable resources like wind, solar, geothermal, biomass, and small hydroelectric. The utility is on track to reach 20 percent this year. Along with large hydro and nuclear power, PG&E now typically gets more than half of its electricity from sources that are essentially carbon-free, making it one of the cleanest utilities in the nation.
Once PG&E determines which of the new offers best suit its customers' needs for clean energy, it will engage selected developers in negotiations, with the goal of submitting executed contracts to the California Public Utilities Commission by mid-year for review.
Pacific Gas and Electric Company, a subsidiary of [ PG&E Corporation ] (NYSE: [ PCG ]), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers some of the nation's cleanest energy to 15 million people in Northern and Central California. For more information, visit [ http://www.pge.com/about/newsroom/ ] and [ www.pgecurrents.com ].
SOURCE Pacific Gas and Electric Company (PG&E)
[ Back to top ] RELATED LINKS
[ http://www.pge.com ]
