In an announcement dated August 24, 2010, we specified the AECs that PECO would allocate to each Full Requirements tranche. The amounts of Tier 1 Solar AECs that are being allocated have been revised. Please ignore the allocations for Tier 1 Solar AECs specified in the August 24 announcement and use the table below. The previously specified allocations of Tier 1 Non-Solar AECs remain the same. We apologize for the confusion. 

 

 

Default Service Suppliers are responsible for providing Alternative Energy Credits (AECs) during the term of the Full Requirements SMA. Under Section 2.6 of the SMA, a Seller's AEPS obligation will be reduced by the number of AECs allocated to the Seller in the Transaction Confirmation. 

 

Any PECO AECs allocated to Seller’s AEPS Obligation remain the property of PECO and are not transferred to the Seller. In the event that the Seller's AEPS Obligation for an AEPS Reporting Period is less than the amount of AECs allocated to the Seller's Obligation, the Seller will not be required to transfer any AECs to PECO for that Reporting Period. The allocated AECs will remain the property of PECO. No credit will be granted to the Supplier and the Supplier cannot request that these AECs apply to any other Reporting Period’s obligation.

 

The same number of Alternative Energy Credits will be allocated to tranches in the same Class, regardless of whether they are Fixed-Price or Spot-Price.