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Archived-BEC-46: Taking June 2020 for AIC as an example, why are there two prices in the results table ($24.65/MWh and $25.37/MWh)?

The target for June 2020 for AIC was 20 blocks.  These 20 blocks were filled with 17 blocks of the On-Peak June 2020 Product as well as 3 blocks of the June 2020 to May 2021 Combination.  The price of $24.65/MWh is the average of the winning bid prices for the 17 blocks of the … Continue reading Taking June 2020 for AIC as an example, why are there two prices in the results table ($24.65/MWh and $25.37/MWh)?

Archived-BEC-45: Will the Companies require electronic delivery of the letters of credit given that emergency measures are still in place in the wake of COVID-19? Will the terms of the letter of credit be required to change?

After Commission approval of the results, the Companies will work with suppliers to provide instructions for delivery of letters of credit.  Each Company will provide instructions for electronic delivery and/or hardcopy delivery.  Please note that the terms of the letters of credit already provide for electronic transmission or documents and communications.

Archived-BEC-43: Our bank wants to suggest additional modifications to the Standard Pre-Bid Letter of Credit given that the letter of credit will be issued electronically. Can you please review?

Neither the Procurement Administrator nor the Companies review draft language for the Pre-Bid Letters of Credit.  The Procurement Administrator issued instructions on March 31 and again on April 3 regarding the Pre-Bid Letters of Credit.  Aside from these instructions, the Pre-Bid Letter of Credit for a Company must be in the form of the Standard … Continue reading Our bank wants to suggest additional modifications to the Standard Pre-Bid Letter of Credit given that the letter of credit will be issued electronically. Can you please review?

Archived-BEC-38: The RFP Rules state that the Procurement Administrator “expects to notify a Bidder via phone that had Bids in a procurement event that were evaluated whether any of the Bidder’s Bids will be identified as ‘winning Bids’ to the ICC by 6 PM on the applicable Bid Date. The Procurement Administrator provides written confirmation via email by 12 PM (CPT) on the business day following the applicable Bid Date.” Does the Procurement Administrator have updated guidance given the current circumstances?

The Procurement Administrator expects the timeframes as provided in the RFP Rules to continue to apply even in the current circumstances.  As a reminder, as stated in the RFP Rules, such notifications are made to the extent practicable or may be made later as circumstances warrant.

Archived-BEC-35: Will the March 23, 2020 version of the AIC P2 Capacity Certifications Insert (#P2-5) be accepted considering an updated version of the Insert was posted on April 7, 2020?

The Procurement Administrator would appreciate, but does not require, that you submit the revised version of the AIC P2 Capacity Certifications Insert (#P2-5) that was updated to correct a typographical error in the Bid Date. If the originally posted version is submitted, the Procurement Administrator will assume that the certifications, based on the corrected Bid … Continue reading Will the March 23, 2020 version of the AIC P2 Capacity Certifications Insert (#P2-5) be accepted considering an updated version of the Insert was posted on April 7, 2020?

Archived-BEC-34: Will I receive a deficiency notice if I submit the Part 2 Proposal for a procurement event for Energy Products, but my Pre-Bid Letter(s) of Credit have not been received yet?

The deadline to submit a Part 2 Proposal for a procurement event for Energy Products (excluding Bids) including the Pre-Bid Letters of Credit for AIC Energy Products, ComEd, and MEC is April 14, 2020 by 12 PM (noon) CPT. If the Part 2 Proposal (excluding Bids) from a Bidder is incomplete because the Pre-Bid Letter … Continue reading Will I receive a deficiency notice if I submit the Part 2 Proposal for a procurement event for Energy Products, but my Pre-Bid Letter(s) of Credit have not been received yet?

Archived-BEC-32: Can we propose a modification to the conditions for drawing on the Pre-Bid Letter of Credit? We are specifically looking at the provision where a draw could occur if the Bidder disclosed information relating to its Proposal publicly or to any other party before the Illinois Commerce Commission has rendered its decision on the results of the Procurement Event. We realize this is not listed as an acceptable modification, but this could conflict with disclosures we may be required to make to our regulators.

As stated in the RFP Rules for the block energy procurement events (Paragraphs IV.4.4, IV.5.4, and IV.6.4), a Bidder participating in a procurement event must use the Standard Pre-Bid Letter of Credit for that procurement event or incorporate only modifications approved by the applicable Company as posted to the procurement website. As you note, the … Continue reading Can we propose a modification to the conditions for drawing on the Pre-Bid Letter of Credit? We are specifically looking at the provision where a draw could occur if the Bidder disclosed information relating to its Proposal publicly or to any other party before the Illinois Commerce Commission has rendered its decision on the results of the Procurement Event. We realize this is not listed as an acceptable modification, but this could conflict with disclosures we may be required to make to our regulators.