If you bid and win in the RFP, the RECs from your winning Project will be allocated by the Procurement Administrator to the Companies in pre-specified proportions (27.793% to AIC, 71.925% to ComEd, and 0.282% to MEC). As such, it is contemplated that you will sign three contracts, one with each of AIC, ComEd and … Continue reading How does the Collateral Threshold in Table A of Section 7.1 impact the Performance Assurance Amount for a utility-scale solar project under the Indexed REC Contract?
We, the Issuing Bank, hereby certify that as of the Date of Issuance of this Irrevocable Standby 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 from Moody’s Investors Service (“Moody’s”) if rated by Moody’s, and “A” or better by … Continue reading If a bank is rated “A”- by Fitch Ratings (“Fitch”), is the bank acceptable as an Issuing Bank for the Post-Bid Letter of Credit?
The amount of the Performance Assurance is defined in Section 7.1 of the Indexed REC Contract. “The amount of such Seller’s Performance Assurance shall be equal to the positive difference, if any, between: (a) the Collateral Requirement (or Increased Collateral Requirement, if applicable); and (b) the Collateral Threshold, rounded up to the nearest $10,000, as … 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?
Yes, you may use any of the modifications included in the final lists of acceptable modifications posted to the procurement website. It is acceptable to use multiple approved modifications from the final lists of acceptable modifications posted to the procurement website. In some cases it may be required to use multiple approved modifications together. In … Continue reading Is it acceptable to use any of the modifications listed in the final lists of acceptable modifications posted to the procurement website? Can multiple modifications be used?
Sellers’ Performance Assurance is due within eight (8) business days after the Illinois Commerce Commission decision and must be maintained throughout the entire term of the Indexed REC Contract, regardless of whether it is in the form of cash or letters of credit.
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?
Please email the Procurement Administrator at Illinois-RFP@nera.com to receive these documents.
It is not a condition of participation in the RFP that the Bidder itself meet a certain credit rating threshold or that the Bidder rely on the financial standing of a Guarantor that meets a certain credit rating threshold. Under the applicable supplier agreement, the Bidder or a Guarantor, if applicable, may be granted unsecured … Continue reading Is the Bidder required to meet a certain credit rating threshold in order to participate in the RFP?
No, the Collateral Requirement under an applicable supplier contract applies only to the Seller. ComEd will not make a collateral posting to the Seller.
No. Under the Indexed REC RFP, each Company initiates the return of the posted cash, for a Seller that has a Project with an approved Bid, once: (1) you have fully executed the Indexed REC Contract and provided any required Performance Assurance; (2) you have paid the Supplier Fee to the IPA; and (3) the … Continue reading Can cash submitted for bid assurance collateral in the Part 2 Proposal be offset against the collateral requirement required under the Indexed REC Contract, so that only the difference is due?