All bid assurance collateral remains in place until the Commission has rendered a decision on the results of a procurement event. For Bidders with Bids approved by the Commission, bid assurance collateral remains in place until full execution of the applicable supplier contract and until payment of the Supplier Fee is received. Return of cash … Continue reading When and under what circumstances will the cash posted as bid assurance collateral for the Fall 2022 BEC RFP be returned?
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BEC-46: Has the Illinois Commerce Commission ever rejected the Procurement Administrator’s recommendation for the results of a procurement event for a Company for block energy?
In regards to procurement events held for block energy, within two (2) business days of the Bid Date, the Procurement Administrator submits a confidential report that provides the results of the bidding, as well as a recommendation on whether the results should be accepted or rejected to the Commission for each procurement event (i.e. a … Continue reading Has the Illinois Commerce Commission ever rejected the Procurement Administrator’s recommendation for the results of a procurement event for a Company for block energy?
BEC-42: When will Bidders be notified whether if any of their Bids will be identified as winning Bids to the ICC in the energy procurement events?
The Procurement Administrator will notify a Bidder that had Bids evaluated in a procurement event for Energy Products whether any of the Bidder’s Bids for the 2022-2023 Delivery Year will be identified as “winning Bids” to the ICC by 4 PM on the Bid Date for Energy Products. For the 2022-2023 Delivery Year Products are … Continue reading When will Bidders be notified whether if any of their Bids will be identified as winning Bids to the ICC in the energy procurement events?
BEC-29: Why are the Bid Windows for Energy Products earlier for the Fall 2022 BEC RFP?
The Bid Windows for Energy Products for the Fall 2022 BEC RFP have been moved up by one (1) hour to allow for earlier notification to Bidders as to whether their Bids will be identified as winning Bids to the ICC. As stated in the RFP Rules, the Procurement Administrator will notify a Bidder that … Continue reading Why are the Bid Windows for Energy Products earlier for the Fall 2022 BEC RFP?
Indexed REC-71: Is the Average Winning Bid Price ($/MWh) provided in the Indexed REC RFP Results a weighted average?
The Average Winning Bid Price of $52.43/MWh is an average of the winning strike price for the winning utility-scale wind, utility-scale solar, and brownfield site photovoltaic projects weighted by the annual quantity of RECs awarded for each project.
Indexed REC-70: Can you provide a list of all projects that participated in the Spring 2022 Indexed REC RFP?
A list of all projects that participated in the Spring 2022 Indexed REC RFP is not available. In accordance with Section 16-111.5(h) of the Illinois Public Utilities Act, the following information is made public at the time of Commission approval of a procurement event under the Indexed REC Procurement: (i) the names of successful bidders; … Continue reading Can you provide a list of all projects that participated in the Spring 2022 Indexed REC RFP?
CMC-9: Public Act 102-0662 calls for the procurement of Carbon Mitigation Credits (“CMCs”) from carbon-free energy resources. Where can I find information including the results for the procurement event held for CMCs?
Public Act 102-0662 (the “Climate and Equitable Jobs Act”) was signed into law and became effective on September 15, 2021. This legislation calls for the procurement of Carbon Mitigation Credits (“CMCs”) from carbon-free energy resources in an amount of no more than approximately 54,500,000 CMCs annually for ComEd beginning with the delivery year commencing on … Continue reading Public Act 102-0662 calls for the procurement of Carbon Mitigation Credits (“CMCs”) from carbon-free energy resources. Where can I find information including the results for the procurement event held for CMCs?
Indexed REC-65: Can you provide the winning bid prices by project?
The winning bid prices by project are not available. In accordance with Section 16-111.5(h) of the Illinois Public Utilities Act, the following information is made public at the time of Commission approval of a procurement event under the Indexed REC Procurement: (i) the names of successful bidders; and (ii) the average of the winning bid … Continue reading Can you provide the winning bid prices by project?
Indexed REC-64: What is the Letter of Full Transfer (Schedules 1-3) and is it required to be completed by the deadline to provide post-bid collateral?
Any transfer request for the post-bid letter of credit must be presented utilizing one of the forms of the Letter of Full Transfer (Schedules 1-3) together with the original Letter of Credit and original amendments, if any. The Letter of Full Transfer does not need to be completed at the time the post-bid letter of … Continue reading What is the Letter of Full Transfer (Schedules 1-3) and is it required to be completed by the deadline to provide post-bid collateral?
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?