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Indexed REC-57: When is the first MES Compliance Plan submission deadline, is it within thirty (30) calendar days or business days of the Commission Bid Approval Date?

As stated in Section 15.5 of the Indexed REC Contract, unless otherwise specifically provided herein or in a Product Order, “day” means a calendar day and includes Saturdays, Sundays and holidays. The MES Compliance Plan shall be submitted to the IPA within thirty (30) calendar days of the Commission Bid Approval Date (December 15, 2022), … Continue reading When is the first MES Compliance Plan submission deadline, is it within thirty (30) calendar days or business days of the Commission Bid Approval Date?

Indexed REC-46: When is the bid assurance collateral returned if we submit a Bid and the Project is selected and in the case the Project is not selected?

All bid assurance collateral remains in place until the Commission has rendered a decision on the results of the procurement event. If the Bid for a Project is selected by the evaluation procedure and approved by the Commission, bid assurance collateral remains in place until full execution of the Indexed REC Contract and posting of … Continue reading When is the bid assurance collateral returned if we submit a Bid and the Project is selected and in the case the Project is not selected?

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?