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?
Archives
Indexed REC-51: Is the list of final acceptable modifications to the Post-Bid Letter of Credit available in Word file format?
No. The list of acceptable modifications to Post-Bid Letter of Credit is only available in PDF file format. The list of final acceptable modifications to the Post-Bid Letter of Credit is posted to the Procurement website here.
Indexed REC-49: Can a Bidder submit comments on the Post-Bid Letter of Credit with its Part 2 Proposal?
Comments on and proposed modifications to the Post-Bid Letter of Credit that are submitted after the deadlines related to the Part 1 Proposal will not be reviewed. The list of final acceptable modifications to the Post-Bid Letter of Credit has already been posted here.
Indexed REC-45: Can we replace the Post-Bid Letter of Credit posted to meet the performance assurance requirement in the future if, for example, our banking relationship changes?
Yes. Please refer to the FAQ-Indexed REC-44.
Indexed REC-44: Is there a minimum expiration date for the initial Post-Bid Letter of Credit posted to meet the performance assurance requirement under the Indexed REC Contract?
There is no set minimum expiration date for the initial Post-Bid Letter of Credit. However, we note that failure to meet and maintain the performance assurance requirement under the Indexed REC Contract is an Event of Default pursuant to Section 9.2(d) of the Indexed REC Contract. Further, it is a condition of the letter of … Continue reading Is there a minimum expiration date for the initial Post-Bid Letter of Credit posted to meet the performance assurance requirement under the Indexed REC Contract?
Indexed REC-43: Can you please confirm that the bid assurance collateral does not need to come from either the Bidder or Seller entities and may come from a parent entity?
Yes. The Bidder may post the bid assurance collateral through an entity other than the Bidder or Seller (e.g., from a parent company). If bid assurance collateral is in the form of cash, the Procurement Administrator requests, but does not require, that you confirm via email to Illinois-RFP@nera.com when you have initiated the wire transfer, … Continue reading Can you please confirm that the bid assurance collateral does not need to come from either the Bidder or Seller entities and may come from a parent entity?
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-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-44: Are suppliers able to provide multiple forms of performance assurance to meet their obligations under the (AIC) Confirmation Agreement and the (ComEd) Master Agreement? Stated another way, are suppliers able to provide both a letter of credit and cash simultaneously to meet their performance assurance obligations?
Yes. A supplier may post any required performance assurance under the (AIC) Confirmation Agreement and the (ComEd) Master Agreement using both cash and a letter of credit at the same time.
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?