WND-18: By way of example, suppose that our Project is a 200 MW utility-scale wind project and that we bid an annual quantity of 550,000 RECs. Does the collateral requirement for the contract period of $4 times the annual quantity apply to each Company separately or to all three Companies together?

Suppose a 200 MW wind Project is selected by the evaluation for an annual quantity of 550,000 RECs and approved by the Commission.  The annual quantity will then be allocated by the Procurement Administrator to each of the three (3) Companies.  Suppose that the quantities to each Company were 300,000 for ComEd, 200,000 to AIC, and 50,000 to MEC.  Then the collateral requirement for each of the three Companies would be $1.2M, $800,000, and $200,000 respectively.  Thus, the collateral requirement across the contracts for all three Companies together would be $2.2M ($1.2M + $800,000 + $200,000 = $4 x 550,000 RECs).