Announcements


DG-162: If only some and not all of the Bidder’s Bids are identified as winning Bids, does the Letter of Credit stay in place as it is or is the Bidder required to provide a new Letter of Credit to reflect the number of RECs in the winning Bids?

If a Bidder has Bids that are identified as winning Bids, the Letter of Credit issued during the Part 2 Window stays in place 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 the Bidder has a winning bid on a Forecast Quantity so that some systems in the Small Size Class have not yet been identified.  After the Bidder pays the Supplier Fees, the Letter of Credit will be reduced on a prorated basis based upon the number of RECs in the winning Bids as soon as practicable.  During the supply period, at the end of each quarter, the Letter of Credit is further reduced as systems demonstrate that they have accumulated metered deliveries of renewable energy.  The Letter of Credit will be returned once its amount is reduced or drawn down to zero.