If a system that was identified does not begin accumulating deliveries by the required deadline and it is clear that the system will not be built, the Bidder will forfeit the collateral ($4 x the number of RECs associated with this system x 5 years) associated with the RECs from such system.  Furthermore, the maximum quantity of RECs that can be delivered under the contract will be reduced by the quantity of RECs associated with the project and the project will be removed from the contract.

The details of how budgets for future DG procurement event will be set are not yet available.  Please note that under the terms of the contract, if a system does not begin accumulating metered deliveries by the required deadline, an extension may be granted at the IPA’s sole discretion for limited circumstances such as demonstrated delays in a utility approving interconnection of a system, or failure by the PJM EIS GATS or M-RETS to process registration in a timely manner.