Utility-Scale Wind RFP – ANNOUNCEMENT: Supplier Fee
Guidelines on Contract Execution Process
A Project selected through the Utility-Scale Wind RFP and approved by the Illinois Commerce Commission will be assessed a Supplier Fee that will be due within seven (7) business days after ICC approval of the Bids. The Supplier Fee is $0.25 times the Annual Quantity of RECs bid for a Project (which is equivalent to about $0.017 per REC assessed on the anticipated quantity of RECs over the entire 15-year delivery term).
For illustrative purposes, we provide below an example of the calculation of the Supplier Fees that will be due to the Illinois Power Agency. If a Project is selected through the Utility-Scale Wind RFP and is approved by the Commission, and if the annual quantity that the Bidder submitted in its Bid for the Project is 100,000 RECs, then the Supplier Fees due would be $25,000, which is calculated as follows:
|Supplier Fee per REC||= $0.25 per REC of the Annual Quantity Bid|
|Annual Quantity Bid||= 100,000 RECs|
|Supplier Fees for Project||
= Supplier Fee x Annual Quantity Bid
= $0.25 x 100,000 RECs = $25,000
Also, the contract execution process for each Company is fully described in Paragraph VI.2.17. of the RFP Rules. A summary of the process and additional items required when executing the REC Contract and related documents for ComEd only is attached to this announcement.