Indexed REC RFP – ANNOUNCEMENT: Stakeholder Comment Process on Benchmark Categories of Inputs, Assumptions and Data Sources

The IPA’s 2024 Long-Term Renewable Resources Procurement Plan (“2024 Long-Term Plan”)  provides for a Summer 2024 procurement of RECs from new utility-scale wind projects, new utility-scale solar projects, new brownfield site photovoltaic projects, and new hydropower projects at an existing dam or modernized or retooled hydropower projects at an existing dam (the “Summer 2024 Indexed REC RFP”).

Chapter 5.8 of the 2024 Long-Term Plan describes a new comment process to be held as part of the benchmark development process for each Indexed REC procurement event. Recognizing that potential bidders have a strong interest in understanding and helping shape the inputs and assumptions informing benchmark development, while also balancing that interest against the need to maintain the confidentiality of benchmarks and ensure the integrity of the competitive bidding process, potential bidders and other stakeholders will be provided an opportunity to comment on:

  • Categories of cost, revenue, and other inputs and assumptions utilized within the benchmark development methodology; and
  • General data sources potentially utilized by the Procurement Administrator, without revealing any specific data points or values anticipated to be utilized and without linking any specific data source to any specific input category.

Additional information on the comment process, benchmark development process, and benchmark use in competitive procurement events is provided in an Invitation to Comment posted on the procurement website. The Procurement Administrator invites feedback from participants of past procurement events for RECs, prospective participants, and other interested parties.

The timeline and process for interested parties to provide comments is as follows:

  • Please submit an attachment with your comments by email to the Procurement Administrator at:
  • Please provide telephone and e-mail contact information in the event that the Procurement Administrator seeks clarification regarding your comments.
  • Please indicate the category of project for which your comment applies: utility-scale wind project (projects over 5 MW), new utility-scale solar project (projects over 5 MW), new brownfield site photovoltaic project, or new hydropower project at an existing dam or modernized or retooled hydropower project at an existing dam.
  • If applicable, please provide any link to a new data source or backup documentation with your submission.

The deadline to provide comments is on Wednesday, April 24, 2024 and all comments should be sent to

All responses will be made public and published on the Procurement Administrator’s website (, subject to redaction. The IPA and Procurement Administrator will review and consider any comments received. The proposed benchmark prices submitted to the ICC for approval will remain confidential, and the impact of the comments received on the proposed benchmarks will remain confidential.

Please direct all questions to the Procurement Administrator at: