A Project selected through the Utility-Scale Wind RFP and approved by the Illinois Commerce Commission (“ICC”) will be assessed a Supplier Fee per REC that will be due within seven (7) business days after ICC approval of the Bids. The Supplier Fee will be stated as $x.xx per REC and will be assessed on the Annual Quantity of RECs associated with a Bidder’s winning Bid. (The “Annual Quantity of RECs” means that annual quantity that is identified by the Procurement Administrator as the Bidder’s winning Bids and that becomes the quantity under contract if the Commission approves the results of the procurement event. In the case of a partial award, the quantity under contract may be smaller than the quantity that a Bidder submitted in its Bid.)
This calculation is a change from what was used in the procurement event under the Wind and Solar RFP held in Fall 2017 and the procurement events under the New Solar RFP. In those procurement events, the assessment was based on the anticipated quantity of RECs procured over the entire 15 years of the REC Contract.
Under the Utility-Scale Wind RFP, the Supplier Fee is $0.18 per REC. Suppose that the annual quantity identified by the Procurement Administrator as the Bidder’s winning Bids for the Project is 100,000 RECs. Then the Supplier Fees due would be $18,000, which is calculated as follows:
|Supplier Fee per REC||= $0.18/REC|
|Annual Quantity from winning Bids||= 100,000 RECs|
|Supplier Fees for Project||= Supplier Fee per REC x Annual Quantity from winning Bids
= $0.18/REC x 100,000 RECs = $18,000
First posted 9/21/2018; revised 10/2/2018.