Archived-BEC-32: Can we propose a modification to the conditions for drawing on the Pre-Bid Letter of Credit? We are specifically looking at the provision where a draw could occur if the Bidder disclosed information relating to its Proposal publicly or to any other party before the Illinois Commerce Commission has rendered its decision on the results of the Procurement Event. We realize this is not listed as an acceptable modification, but this could conflict with disclosures we may be required to make to our regulators.

As stated in the RFP Rules for the block energy procurement events (Paragraphs IV.4.4, IV.5.4, and IV.6.4), a Bidder participating in a procurement event must use the Standard Pre-Bid Letter of Credit for that procurement event or incorporate only modifications approved by the applicable Company as posted to the procurement website. As you note, the modification you propose is not one that has been approved by any Company. No comments were solicited on the Pre-Bid Letters of Credits under the BEC RFP as the only changes to these documents were limited strictly to administrative updates. No comments or modifications on any of the Pre-Bid Letters of Credit can be considered at this time.
In relation to possible disclosures that you may be required to make to regulators, we cannot assess what these disclosures may be and whether such disclosures may or may not constitute “disclosing information relating to your Proposal”. We can note that this provision is limited to the time prior to the Illinois Commerce Commission decision on April 24, 2020. We can also note that this condition to draw on the Pre-Bid Letter of Credit relates to the undertakings otherwise made by the Bidder in the Part 2 Proposal. In the Part 2 Proposal, the Officer of the Bidder certifies that, other than for purpose of arranging for the Pre-Bid Letter of Credit or communications with Advisors (if any), the Bidder has not disclosed, and will not otherwise disclose, publicly or to any other party any information relating to its Proposal, which could have an effect on whether another party submits a Proposal for this procurement event, or on the contents of such Proposal that another Bidder would be willing to submit. The RFP Rules note that such information includes, but is not limited to: the fact that the Bidder is submitting a Proposal for this procurement event; the Bidder’s Bids; the Bidder’s number of blocks bid for any Product, any Combination, or for any bundle of Products and Combinations; the Bidder’s estimation of the value of a Product or Combination; the Bidder’s estimation of the risks associated with providing supply under the applicable supplier contract; and the Bidder’s preference for bidding on specific Products or Combinations.