No. The amount if $8/REC for new and for existing systems. After the Bid Date, there are three (3) possibilities:

• If the Bidder has no Bids that are approved by the Commission, the Letter of Credit will be cancelled as soon as practicable after the Commission decision on the results of the procurement event;
• If a Bidder has Bids that are approved by the Commission and all of the systems that are a part of the winning Bids are existing systems, the Letter of Credit will be cancelled as soon as practicable after the IPA receives the Supplier Fee from the Bidder;
• If a Bidder has Bids that are approved by the Commission and some of the approved are new systems, after the IPA receives the Supplier Fee from the Bidder, the IPA will request an amendment to reduce the amount of the Letter of Credit to $8/REC for new systems only. The Letter of Credit will then expire on the date stated in its terms unless the Bidder provides any special instructions for return of the Letter of Credit in the Part 2 Proposal.