A winning bidder will have seven (7) business days after the Illinois Commerce Commission’s approval of the procurement event to pay the supplier fee associated with the winning bids. The supplier fee is not returned or refundable.
With its Part 2 Proposal, a Bidder must provide a Letter of Credit in an amount of $4 times the number of RECs that the Bidder can win across all systems and any forecast quantity for the five (5) Delivery Years under the applicable supplier contracts. This Letter of Credit stays in place, reduced on a prorated basis based upon the winning Bids, at the start of the supply period to the extent that some of the systems presented in the Proposal have not begun accumulating metered deliveries or to the extent that some systems in the Small Size Class have not yet been identified.
In the case that a system fails to be built or energized, the Bidder would forfeit the collateral associated with the RECs from such system. Furthermore, the project would be removed from the applicable supplier contract with a utility and the maximum quantity of RECs to be delivered under the contract would be reduced accordingly.