Please send any questions you have regarding the delivery of bid assurance collateral or the delivery of performance assurance to the Procurement Administrator. The Procurement Administrator will respond to your questions and contact personnel at the utilities for information on your behalf as appropriate.
The Procurement Administrator expects to notify a bidder that has bids that were evaluated whether any of the bidder’s bid will be identified as “winning bids” to the Commission by 6 PM on the bid date. Such notification is made earlier to the extent practicable or may be made on the next business day as … Continue reading Will bidders get a notification from the Procurement Administrator about whether the bidder had bids that will be identified as “winning bids” to the Commission?
The Seller has thirty business days from the Commission decision to fully execute the REC Contract. The Commission decision is expected to take place on Thursday, December 19, 2019 so that each Seller with a Project selected by the evaluation and approved by the Commission would have until Tuesday, February 4, 2020 to post Performance … Continue reading What is the deadline for a Seller to post Performance Assurance if its Project is selected by the evaluation and is approved by the Commission?
The Seller has three business days from the Commission decision to fully execute the REC Contract. The Commission decision is expected to take place on Thursday, December 19, 2019 so that each Seller with a Project selected by the evaluation and approved by the Commission would have until Tuesday, December 24, 2019 to fully execute … Continue reading What is the deadline for a Seller to execute the REC Contract if its Project is selected by the evaluation and is approved by the Commission?
Paragraph 2 of the Pre-Bid Letter of Credit provides all of the conditions under which the Pre-Bid Letter of Credit will be drawn upon. These conditions include as item c): ““Seller has failed to execute the applicable supplier contract for a Project within three (3) business days of being notified that the Illinois Commerce Commission … Continue reading Can the Pre-Bid Letter of Credit be drawn upon if a Seller does not sign the REC Contract after its Project is selected by the evaluation and is approved by the Commission?
A seller that fails to pay the supplier fee and/or post performance assurance faces forfeiture of the bid assurance collateral. Furthermore, under the REC Contract, not constructing the project on a timely basis or not delivering RECs are Events of Default subject to termination provisions, which entitle the Buyer as the Non-Defaulting Party to the … Continue reading If our Project is selected and we execute the REC Contracts, what are financial penalties if we abandon the project at that point (failing to pay the Supplier Fees and/or posting the performance assurance)?
If a Bidder has Bids that are accepted by the Commission, such Bidder will receive an invoice from the IPA for the Supplier Fees as well as instructions for payment. The Bidder must complete payment of the Supplier Fees due to the IPA by the seventh business day after the ICC decision. For the Fall … Continue reading When is the due date for the Supplier Fees for the block energy procurement events? What will happen if a winning Bidder fails to pay the Supplier Fees by the due date?
The invoice for the Supplier Fee will be provided by the Illinois Power Agency.
The ICC will render its decision on the results of the Energy Products procurement events on Friday, April 26, 2019. If the ICC accepts the results of a procurement event for a Company, the Procurement Administrator will notify all Bidders that submitted Bids in that procurement event whether some or all of their Bids were … Continue reading When does the ICC render its decision on results of the Energy Products procurement events? What is the process after ICC renders its decision?
The Procurement Administrator confirmed through an announcement sent to website registrants and posted to the procurement website that the final supplier fees are the same as those that were announced on a preliminary basis during the webcast, namely: $127 per on-peak block $84 per off-peak block $20 per ZRC