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Capacity-4: I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Is this payment adjustment based on distance from the Compliance Zone (LRZ 4)?

The payment adjustment is based on the difference between the Auction Clearing Price from the MISO Planning Resource Auction (“PRA”) for the Source Zone associated with the ZRCs and the Compliance Zone (LRZ 4). Please see FAQ-Capacity-1 and FAQ-Capacity-2 for examples of the payment adjustment.

Capacity-2: I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will add to the payment to Seller?

Under the terms of the (AIC) Capacity Agreement, payments to Seller will only be adjusted to reflect an increased payment if the Source Zone ACP in a season is greater than the Compliance Zone ACP in that season where the Compliance Zone is LRZ4. For purposes of the below example, the “ACP” refers to the … Continue reading I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will add to the payment to Seller?

Capacity-1: I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will result in a reduced payment to Seller?

Under the terms of the (AIC) Capacity Agreement, payments to Seller will be reduced if the Compliance Zone ACP in a season is greater than the Source Zone ACP in that season where the Compliance Zone is LRZ4. If the amount of the payment reduction is greater than the unadjusted payment, then Seller (not Buyer) … Continue reading I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will result in a reduced payment to Seller?

Indexed REC-54: How is the Index Price calculated?

The Index Price, as defined in the Indexed REC Contract, means the real-time energy settlement price at the applicable Illinois trading hub, as indicated in the Product Order. Specifically, this means either the hourly Real-Time Locational Marginal Price for the Midcontinent Independent System Operator, Inc’s (“MISO”) Real-Time Energy and Operating Reserve Market for the Illinois … Continue reading How is the Index Price calculated?

Indexed REC-50: What is the Final RFP Project Percentage used for in the Standing Order?

The Final RFP Project Percentage in the Bid Form will be used for purposes of the Indexed REC Contract and will be the percentage of the Project’s Actual Production, as offered by Seller through the RFP and as indicated in the Product Order under the Indexed REC Contract. It may not be amended during the … Continue reading What is the Final RFP Project Percentage used for in the Standing Order?

Indexed REC-37: When will the final acceptable modifications to the Pre-Bid Letter of Credit, Post-Bid Letter of Credit, Form of Guaranty, and Full Transfer Schedules 1-3 be posted to the procurement website?

The final list of acceptable modifications to the Pre-Bid Letter of Credit for each Company, Post-Bid Letter of Credit for Option 1 and Option 2, Full Transfer Schedules 1-3, and Form of Guaranty for each Company, will be posted to the procurement website no later than Friday, November 18, 2022, which is the day the … Continue reading When will the final acceptable modifications to the Pre-Bid Letter of Credit, Post-Bid Letter of Credit, Form of Guaranty, and Full Transfer Schedules 1-3 be posted to the procurement website?

Indexed REC-35: As described in Section 5.4.3 of the Long-Term Plan, under new subparagraph (P) of Section 1-75(c)(1), the Agency will optimize the procurement of RECs from projects located in communities eligible to receive Energy Transition Community Grants. Was the prioritization of such projects implemented for this Fall 2022 Indexed REC RFP?

As described in Section 5.4.3 of the Long-Term Plan, under new subparagraph (P) of Section 1-75(c)(1), the Agency will optimize the procurement of RECs from utility-scale projects located in communities eligible to receive Energy Transition Community Grants. Section 5.4.3 describes a bid evaluation procedure to prioritize such projects. This grant program will be administered by … Continue reading As described in Section 5.4.3 of the Long-Term Plan, under new subparagraph (P) of Section 1-75(c)(1), the Agency will optimize the procurement of RECs from projects located in communities eligible to receive Energy Transition Community Grants. Was the prioritization of such projects implemented for this Fall 2022 Indexed REC RFP?

Indexed REC-34: Can you give more details on the initial Performance Assurance to be posted under the Indexed REC Contract if Seller is not eligible for unsecured credit?

The Collateral Requirement under each Indexed REC Contract is separate from the bid assurance collateral that is due with the Part 2 Proposal. For Bidders with Bids approved by the Commission, bid assurance collateral remains in place until full execution of the Indexed REC Contract and posting of any required Performance Assurance and until payment … Continue reading Can you give more details on the initial Performance Assurance to be posted under the Indexed REC Contract if Seller is not eligible for unsecured credit?