A “Bid” includes a price per REC for a given Project as well as an annual quantity of RECs to be delivered from that Project under the REC Contract. If a Project is selected through the RFP and is approved by the Commission, the Seller under the REC Contract is paid the price submitted as part of the Bid for that Project.
At the time of ICC approval of a procurement event, the names of winning Sellers and the average of the winning bid prices are made public. The quantity of RECs procured may also be disclosed in specific circumstances.