The Average Winning Bid Price of $72.59/MWh is an average of the winning strike price for the winning utility-scale solar and brownfield site photovoltaic projects weighted by the annual quantity of RECs awarded for each project.
Archives
Indexed REC-56: Are Bids evaluated independently for each Category of Project?
The evaluation of bids proceeds independently for each Category as described in paragraph I.2.11. of the RFP Rules. In the first step, for a given Category, the evaluation of bids eliminates the bids with strike prices that fail to meet or beat the benchmark. Benchmarks are established by the Procurement Administrator, in consultation with the … Continue reading Are Bids evaluated independently for each Category of Project?
Indexed REC-52: How are benchmarks calculated?
The Illinois Power Agency Act (“IPA Act”) requires that benchmarks are kept confidential. Benchmarks are established by the Procurement Administrator, in consultation with the IPA, the Procurement Monitor, and the ICC Staff. The benchmark is subject to review and approval by the Commission. Section 1-75(c)(1)(D) of the Act states that, “Renewable energy credits shall be … Continue reading How are benchmarks calculated?
BEC-28: Why are the benchmarks confidential?
The Illinois Power Agency Act (“IPA Act”) requires that benchmarks are kept confidential.
BEC-27: When are the benchmarks determined?
Information regarding the establishment of the market-based price benchmark is provided in the IPA Act and pasted below for convenience. Section 16-111.5 of the Act states that the procurement process shall include “(3) Establishment of a market-based price benchmark. As part of the development of the procurement process, the procurement administrator, in consultation with the … Continue reading When are the benchmarks determined?
BEC-24: Are the benchmarks that will be used in the evaluation of bids under the BEC RFP market-based?
Section 16-111.5 of the Act states that the procurement process shall include “(3) Establishment of a market-based price benchmark. As part of the development of the procurement process, the procurement administrator, in consultation with the Commission staff, Agency staff, and the procurement monitor, shall establish benchmarks for evaluating the final prices in the contracts for … Continue reading Are the benchmarks that will be used in the evaluation of bids under the BEC RFP market-based?
BEC-23: Where can I find information on evaluation procedure and benchmarks relevant to the procurement events held under the Spring 2022 Block Energy and Capacity RFP?
As stated in Paragraph I.2.11 of the Spring 2022 Block Energy and Capacity RFP Rules, “The evaluation of Bids for a Company in its procurement event for Energy Products proceeds in two steps. In the first step, all Bids that fail to meet the benchmarks are eliminated. In accordance with the Act, benchmarks are established … Continue reading Where can I find information on evaluation procedure and benchmarks relevant to the procurement events held under the Spring 2022 Block Energy and Capacity RFP?
Indexed REC-17: Can the evaluation procedure select an annual quantity of RECs between the minimum quantity and full quantity provided in the Bid?
The evaluation of the Bids, which is fully described in Paragraph VI.2.10 of the Final Indexed REC RFP Rules, implies that the number of RECs from the highest-priced Project selected may be less than the full quantity (a “partial award”). For this reason, a Bidder must specify, in addition to the annual full quantity that … Continue reading Can the evaluation procedure select an annual quantity of RECs between the minimum quantity and full quantity provided in the Bid?
Indexed REC-15: What qualitative factors are considered in bid evaluation?
Bids are evaluated on a price-only basis and independently for each Category of Project (i.e., utility-scale wind project, utility-scale solar project, or brownfield site photovoltaic project).
Indexed REC-14: How are the benchmarks used in bid evaluation calculated?
Benchmarks are established by the Procurement Administrator, in consultation with the IPA, the Procurement Monitor, and the ICC Staff. The benchmarks are confidential and are subject to review and approval by the ICC.