The timeline of the contract execution process for each Company is fully described in Paragraph VI.2.17 of the RFP Rules posted on March 16, 2022. For your convenience, we also provide it below: “If the ICC approves some or all of a Bidder’s Bids for a procurement event for a Company, by 12 PM (noon) … Continue reading We have Bids for a Company that have been approved as winning Bids by the ICC. When will that Company send the partially executed supplier contract and related documents to us?
Please note that if you have a Project with a winning Bid approved by the Illinois Commerce Commission (“Commission”), the annual quantity in the RFP that is approved will be allocated to each of the three Companies. For each Company, the Collateral Requirement for a utility-scale wind project is equal to $4 times the annual … Continue reading What is the initial collateral requirement amount under the Indexed REC Contract with a Company and when is it due?
An example that has been prepared for illustrative purposes to show how the REC monthly price and the associated invoice amount are calculated is available here.
The final supplier contracts for the Supplemental Procurement Events are the same as the final supplier contracts from the Spring 2022 BEC RFP (except for the administrative addition of specific dates related to scheduling in the Confirmation Sheet for ComEd). The administrative addition of specific dates is reflected in the “Redline (Spring 2022 Final vs … Continue reading Are there any changes between the contract documents used for the Spring 2022 BEC RFP and the contract documents used for the Supplemental Procurement Events?
Redlines of the changes between the contract documents used for the Fall 2021 BEC RFP and the contract documents used for the Spring 2022 BEC RFP are posted to the Draft Documents page of the Block Energy and Capacity section of the procurement website. There are no changes between the draft contract documents and final … Continue reading Where can I find changes between the contract documents used for the Fall 2021 BEC RFP and the contract documents used for the Spring 2022 BEC RFP?
No. As stated in the Indexed REC Contract, Seller must represent that all construction activities related to the Project are compliant with the Prevailing Wage Act requirements. These requirements apply to all construction work performed by Seller, including all contractors and subcontractors, relating to construction, maintenance, repair, assembly, or disassembly work in relation to the … Continue reading If I have an Engineering, Procurement and Construction (EPC) Contractor working on the main construction activities related to the Project, does that mean that the EPC Contractor is responsible for compliance with Prevailing Wage Act (PWA) requirements and that the Seller is not responsible for compliance with such requirements under the Indexed REC Contract?
Under the Indexed REC Contract, the Project must be built by General Contractors that have entered into a Project Labor Agreement prior to construction. A General Contractor is defined as the entity or organization with main responsibility for the building of a construction project and who is the party signing the prime construction contract for … Continue reading If I have an Engineering, Procurement and Construction (EPC) Contractor working on the main construction activities related to the Project, is the EPC Contractor required to enter into a Project Labor Agreement or is the Seller required to enter into the Project Labor Agreement?
The Standing Order is an agreed upon schedule registered with PJM-EIS GATS or M-RETS for the automatic transfer of RECs issued for the Project to Buyer’s PJM-EIS GATS or M-RETS account on a recurring basis in accordance with Section 2.3 of the Indexed REC Contract. The Standing Order shall reflect Buyer’s allocated share of the … Continue reading How should we set up the Standing Order between Seller and Buyer for the automatic transfer of RECs?
There is no comparable mechanism under the Indexed REC Contract to the option you describe as available under the contract for the Adjustable Block Program. Under the Indexed REC Contract, failure of Seller to Deliver at least one (1) REC from the Project by the Initial REC Delivery Deadline or extended Initial REC Delivery Deadline … Continue reading If we have a winning Bid for a Project and sign the Indexed REC Contract, can we substitute the Project at a later date if it turns out the interconnection cost is higher than expected? There is a mechanism under the Adjustable Block Program that provides an option to substitute a Project if interconnection costs exceed a certain threshold. If a comparable mechanism is not available, can we withdraw a project after signing the Indexed REC Contract?
It is the responsibility of each bidder to review the terms of the Indexed REC Contract and to understand the conditions in which performance assurance under the Indexed REC Contract may be forfeited or drawn upon. Each bidder accepts these terms as a condition of its participation in the Indexed REC RFP.