Announcements


5: Section 2.5 of the EEI Master Power Purchase & Sale Agreement provides for the consent of Parties to the agreement for phone recordings to be used as the controlling evidence for the Parties’ agreement with respect to a particular Transaction in the event a Confirmation is not fully executed by both Parties, and that upon full execution of a Confirmation, such Confirmation shall control in the event of any conflict with the terms of a such phone recordings. Can this Section 2.5 be made applicable in both the Ameren and ComEd Energy Master Agreements?

For each of the Ameren and ComEd Energy Master Agreements, Section 2.5 of the EEI Master Power Purchase & Sale Agreement is inapplicable. We note that under the IPA procurement events, the details of the Confirmation are established through the RFP process managed by the Procurement Administrator who is not a Party to the Agreement. Specifically, such an RFP process provides for details for the procurement event to be posted to the procurement website (www.ipa-energy.com), for the bidder to provide its two part proposal in writing, for the bids to be submitted in a bid form in writing by the bidder, and for the Procurement Administrator to inform the bidders if its bids are being recommended to the Illinois Commerce Commission for acceptance and if its bids are being subsequently approved by the ICC and awarded, and where all such notifications are provided to the winning bidder in writing. Given the steps leading up to the execution of the Transaction Confirmation, there is little scope for phone recordings to be used to establish a Confirmation under the applicable Energy Master Agreements.