The proposal for a project will be assessed for its compliance with the requirements of the RFP on a pass or fail basis. If a project meets these requirements, then the bid for the project will be evaluated.
The evaluation of bids will not feature a points-based system. Rather, the evaluation of bids first eliminates bids that fail to meet or beat the benchmarks. Benchmarks are established by the Procurement Administrator, in consultation with the IPA, the Procurement Monitor, and the ICC Staff. The benchmarks are confidential and subject to review and approval by the Commission. Second, bids that meet or beat the benchmarks are ranked in order of price per REC. Third, the evaluation considers specific priorities, namely that: (i) the amount paid per project may not exceed $20,000,000; (ii) available funding may not be distributed solely to a utility; (iii) a project at least 50% owned by subscribers should be selected if available. Furthermore, the budget for the procurement event is $20,000,000 (over the 15-year contract period) and cannot be exceeded. Further details on the evaluation as well as examples will provided in an appendix to the RFP Rules to be released shortly.