Public Act 102-0662 (the “Climate and Equitable Jobs Act”) was signed into law and became effective September 15, 2021. This legislation calls for the procurement of Carbon Mitigation Credits (“CMCs”) from Carbon-free Energy Resources to be delivered under a long-term contract for a delivery term of 5 years. A “Carbon-free Energy Resource” means a generating unit that is fueled by nuclear power and is interconnected to PJM. NERA Economic Consulting has been retained by the Illinois Power Agency (“IPA”) as the Procurement Administrator for this procurement event.
On October 13, 2021, the Procurement Administrator posted to the procurement website a draft Carbon Mitigation Credit Agreement (the “CMC Contract”) proposed to be the standard contract form between each winning supplier and Commonwealth Edison Company (“ComEd”). The Procurement Administrator invites interested parties to submit their comments on the draft CMC Contract by 5PM CPT on November 1, 2021. To submit comments on the draft CMC Contract, please see the Request for Comments document: Click Here.