The applicable supplier contracts provide for the purchase of RECs from the Seller’s portfolio of systems, which include “Initial Systems” and/or “Subsequent Systems”.
Initial Systems refer to those systems that were included in the Proposal, for which information regarding system characteristics was provided, for which appropriate documentation was provided in the proposal submission process, and that were part of the bidder’s approved bids. For Initial Systems, you may deliver RECs and start receiving payment at any point after such systems have been registered in GATS or M-RETS and have an initial meter read date. (Please note that the initial meter read date must be on or prior to May 31, 2018 for each such system, otherwise the system is removed from the portfolio of eligible systems for which you may deliver RECs under the applicable supplier contract. This is discussed in Section 4(c) of the (AIC DG) REC Contract and the (MEC DG) REC Contract, and in Section 2.10(c) of the ComEd Master (DG) Agreement.) Thus, you could potentially receive payment for an invoice in July that could include, for example, RECs delivered from existing systems presented in your Proposal.
Subsequent Systems refer to those systems that are identified to replace a Forecast Quantity that was part of the bidder’s approved bids. These systems are not presented in the bidder’s Proposal and are only identified subsequent to the execution of the applicable supplier contracts. You must submit to the IPA the documents required to identify the characteristics of such systems by January 28, 2018. The IPA must confirm the addition of such systems to the portfolio of eligible systems under the applicable supplier contracts. The IPA will make one such confirmation, for all systems that are to be added to the portfolio. Such confirmation is expected to occur between January 28, 2018 and February 28, 2018. (This process is discussed in Section 4(b) of the (AIC DG) REC Contract and the (MEC DG) REC Contract, and in Section 2.10(b) of the ComEd Master (DG) Agreement.) Only once such systems are confirmed by the IPA can you deliver RECs from these systems for payment. Thus, no payment for RECs from such systems would occur prior to February 28, 2018.