There is no such restriction on the price that a Bidder may submit with its Bids for AIC Capacity Products.

As stated in Paragraph I.3.8 of the Spring 2023 Block Energy and Capacity RFP Rules, “The evaluation of Bids for the procurement of a Capacity Product for AIC proceeds independently for each Season in a Planning Year and consists of two steps. In the first step, for a given Season of a Planning Year, all Bids that fail to meet the benchmarks are eliminated. In accordance with the Act, the 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 ICC. In the second step, for a given Season of a Planning Year, the Procurement Administrator evaluates the Bids that meet or beat the benchmarks and selects the lowest priced Bids.”