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Archived-BEC-51: When can a Bidder provide comments on or propose modifications to the Standard Pre-Bid Letter of Credit for each Company?

Bidders had the opportunity to provide comments on or propose modifications to the Standard Pre-Bid Letter of Credit for each Company with the Part 1 Proposal. On March 15, 2021, the Procurement Administrator posted the final lists of acceptable modifications to the Pre-Bid Letters of Credit to the Final Materials page under each of Appendices … Continue reading When can a Bidder provide comments on or propose modifications to the Standard Pre-Bid Letter of Credit for each Company?

Archived-BEC-47: Is a Pre-Bid Letter of Credit required to bid on the Energy Products for AIC, ComEd, and MEC? If so, when are the Pre-Bid Letters of Credit due?

As part of the Part 2 Proposal, a Bidder that intends to bid on the Energy Products for AIC, Energy Products for ComEd, and/or Energy Products for MEC must provide an executed Pre-Bid Letter of Credit to each of the respective Companies separately.  For each Company, the Bidder must either use the Standard Pre-Bid Letter … Continue reading Is a Pre-Bid Letter of Credit required to bid on the Energy Products for AIC, ComEd, and MEC? If so, when are the Pre-Bid Letters of Credit due?

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?