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BEC-53: Should we expect a single margin process for netting exposure across all supplier contracts for a Company if we have multiple agreements in place with the Company?

It is the Procurement Administrator’s understanding that each of the supplier contracts for a Company will be administered separately such that margining under each contract will be calculated separately. Should multiple supplier contracts be subject to a margin call, a Company may transmit each such margin call under a single aggregate margin call.  There will … Continue reading Should we expect a single margin process for netting exposure across all supplier contracts for a Company if we have multiple agreements in place with the Company?

BEC-50: Can we use an alternate form of guaranty with either AIC or ComEd?

No. Bidders in the AIC Energy procurement event wishing to rely on the financial standing of a Guarantor must use the standard form of guaranty, Form of Guaranty, and may incorporate the optional changes for AIC. The optional changes for AIC are in the documents named “Schedule 1 to the Form of Guaranty” and “Schedule … Continue reading Can we use an alternate form of guaranty with either AIC or ComEd?

BEC-45: If we have winning bids in the Fall 2022 Block Energy and Capacity RFP that are approved by the Commission and therefore become a supplier under an applicable supplier contract, are we able to work directly with a Company during the delivery term to receive a credit assessment for a Guarantor and submit a Guaranty?

Yes, a supplier may work directly with a Company during the delivery term to receive a credit assessment for a Guarantor and to submit a Guaranty. The creditworthiness assessment includes a review of the Guarantor’s credit ratings and financial information. A supplier may not rely on a Guarantor that does not meet the minimum credit … Continue reading If we have winning bids in the Fall 2022 Block Energy and Capacity RFP that are approved by the Commission and therefore become a supplier under an applicable supplier contract, are we able to work directly with a Company during the delivery term to receive a credit assessment for a Guarantor and submit a Guaranty?

BEC-43: Can you please provide me with more information on how the collateral requirement is determined under the supplier agreements? Is there a minimum or maximum amount of performance assurance required on a per block basis?

The collateral requirement under each of the (AIC) Confirmation Agreement and the (ComEd) Master Agreement for the energy procurement events is based on a mark-to-market methodology. For the (ComEd) Master Agreement, this methodology is described in Schedule 3 (MtM Calculation) to the Collateral Annex. For the (AIC) Confirmation Agreement, relevant information is provided in Exhibit … Continue reading Can you please provide me with more information on how the collateral requirement is determined under the supplier agreements? Is there a minimum or maximum amount of performance assurance required on a per block basis?

Indexed REC-1: Have the First Draft Indexed REC Contract and Draft Preliminary Proposal Requirements been posted?

The Procurement Administrator posted the First Draft Indexed REC Contract and Draft Preliminary Proposal Requirements to the Draft Documents page of the Indexed Wind, Solar, and Brownfield section of the procurement website on August 12, 2022 and issued a request for stakeholder feedback on these documents. The First Draft Indexed REC Contract and Draft Preliminary … Continue reading Have the First Draft Indexed REC Contract and Draft Preliminary Proposal Requirements been posted?

Indexed REC-63: What is the initial collateral requirement amount under the Indexed REC Contract with a Company and when is it due?

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?

Indexed REC-53: 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?

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?