The bid assurance collateral requirement for a Project consists of either cash or a letter of credit to each AIC, ComEd, and MidAmerican. The amount of bid assurance collateral required for a Project is determined separately for each Company. The method for calculating the amount of bid assurance collateral that will be required given the aggregate size of the Projects you are presenting are provided in Paragraphs V.2.2 and V.2.3 of the RFP Rules. Also see FAQ-104.
If a Project has a winning bid that is approved by the Commission, upon contract execution, the Collateral Requirement required is 50% of the annual contract value. The annual contract value is the winning bid price times the annual quantity. The Collateral Requirement under the terms of the REC Contract increases to 100% of the Annual Contract Value on June 1, 2019. The increase occurs regardless of when the project becomes operational or when the first REC is delivered.