The Part 1 Proposal is a Bidder’s opportunity to submit comments on or propose modifications to the Standard Pre-Bid Letter of Credit for a Company that is due with the Part 2 Proposal. In relation to possible disclosures that you may be required to make to regulators, we cannot assess what these disclosures may be … Continue reading Can we propose a modification to the conditions for drawing on the Pre-Bid Letter of Credit? We are specifically looking at the provision where a draw could occur if the Bidder disclosed information relating to its Proposal publicly or to any other party before the Illinois Commerce Commission has rendered its decision on the results of the Procurement Event. We realize this is not listed as an acceptable modification, but this could conflict with disclosures we may be required to make to our regulators.
Archives
BEC-28: If an Insert is digitally signed, is the signature still required to be notarized?
Bidders may complete Inserts by digitally signing the Insert and providing along with the Insert an additional document or information that verifies the identity of the signatory. For Inserts that require the signature to be notarized, notarization is not required if the Insert is digitally signed. The signature line for the Notary Public may be … Continue reading If an Insert is digitally signed, is the signature still required to be notarized?
BEC-26: Can the Pre-Bid Letter of Credit for AIC Capacity Products be sent in hardcopy by overnight delivery for the Fall 2020 Block Energy and Capacity RFP?
The executed Pre-Bid Letter of Credit for AIC Capacity Products must be submitted to AIC and to the Procurement Administrator as an electronic PDF file via electronic means.
BEC-18: How is the collateral requirement under the (AIC) Confirmation Agreement and the ComEd Energy Master Agreement calculated?
The collateral requirement under each of the (AIC) Confirmation Agreement and the ComEd Energy Master Agreement will be for the credit exposure under the contract, which is based on a Mark-to-Market methodology. For the ComEd Energy Master Agreement, this methodology is described in Schedule 3 (MtM Calculation) to the Collateral Annex. For each of the … Continue reading How is the collateral requirement under the (AIC) Confirmation Agreement and the ComEd Energy Master Agreement calculated?
BEC-17: Can we use any of the modifications in the list of acceptable modifications posted to the procurement website?
The Pre-Bid Letter of Credit must be in the form of the Standard Pre-Bid Letter of Credit for a Company or incorporate only modifications approved by the Company and posted to the procurement website. Any bidder can use any of the modifications on the list of acceptable modifications on an optional basis.
BEC-16: Can we submit a draft of our Pre-Bid Letter of Credit for review?
The Procurement Administrator will be soliciting comments on the Standard Pre-Bid Letter of Credit for a Company. A Bidder provides such comments by submitting a redline in Microsoft Word of the Standard Pre-Bid Letter. A Bidder provides comments by email or by upload to the application website.
BEC-15: Is it possible for a Company to procure fewer blocks than is the target?
In the event that a Company does not receive sufficient eligible bids—that is, bids which are consistent with the rules, that meet or beat the benchmark, and that are approved by the Commission—to satisfy its target, the Company may procure a quantity less than its target for a given month and segment.
BEC-14: If a bank is rated “A-” by Fitch Ratings (“Fitch”), is the bank acceptable as an Issuing Bank for the Pre-Bid Letter of Credit?
A bank that has a rating of “A-“ from Fitch is not acceptable as an Issuing Bank for the Pre-Bid Letter of Credit. As specified in Paragraph 14 of the Pre-Bid Letter of Credit, if a bank is rated by Fitch, the bank must be rated “A” or better.
BEC-13: How do I know whether a specific bank will be acceptable to a Company as the Issuing Bank for the Pre-Bid Letter of Credit for that Company?
A bank issuing the Pre-Bid Letter of Credit must be able to make the following certification: We, the Issuing Bank, certify that as of the Date of Issuance of this Letter of Credit our senior unsecured debt is rated “A” or better by S&P Global Ratings (“S&P”) if rated by S&P, “A2” or better by … Continue reading How do I know whether a specific bank will be acceptable to a Company as the Issuing Bank for the Pre-Bid Letter of Credit for that Company?
BEC-12: When does the online Part 2 Form become available?
The online Part 2 Form becomes available no later than when the Part 2 Window opens on Wednesday, August 26, 2020. At that point, bidders can use the login credentials issued by the Procurement Administrator to access the online Part 2 Form.