The deadline to request modifications or provide comments on the changes to the Standard Pre-Bid Letters of Credit was 12PM (noon) CPT on April 2, 2019 (the Part 1 Date) and there is no longer an opportunity to provide such comments. However, please note that, for each procurement event, it is an acceptable modification to … Continue reading The issuing bank for our pre-bid letters of credit will not allow communication by electronic means to effect a draw. Can we provide comments on this provision included in Paragraph 4 of the pre-bid letter of credit?
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BEC-18: The entity that we are considering naming as our guarantor is not rated. Can such an entity serve as guarantor? If not, can we still participate in the RFP?
Under the Block Energy and Capacity (“BEC”) RFP, an entity that is not rated by any of the following rating agencies: S&P Global Ratings (“S&P”), Moody’s Investors Service (“Moody’s”), and Fitch Ratings (“Fitch”), receives a Collateral Threshold Amount of zero. Such an entity does not receive unsecured credit under the applicable BEC contract cannot serve … Continue reading The entity that we are considering naming as our guarantor is not rated. Can such an entity serve as guarantor? If not, can we still participate in the RFP?
BEC-17: We are a previously qualified Bidder and the legal name has changed since we successfully completed the Part 1 Proposal in a procurement event under the Block Energy and Capacity RFP. What are we required to provide in order use the abbreviated process to submit the Part 1 Proposal?
A previously qualified bidder that updates the entity’s legal name should contact the Procurement Administrator for instructions prior to completing the online Part 1 Form. A previously qualified Bidder that updates the Bidder’s legal name may be eligible to use an abbreviated process to submit the Part 1 Proposal. In order to use an abbreviated … Continue reading We are a previously qualified Bidder and the legal name has changed since we successfully completed the Part 1 Proposal in a procurement event under the Block Energy and Capacity RFP. What are we required to provide in order use the abbreviated process to submit the Part 1 Proposal?
BEC-16: We are relying on the financial standing of an Entity other than the Bidder. Are we required to provide all financial statements (10-K, 10-Q, and 8-Ks since the release of the Entity’s most recent financial data) for the Entity or are we required to provide only those financial statements that specifically reference the Bidder?
A Bidder that elects to rely on the financial standing of an Entity other than the Bidder must provide all required financial statements (10-K, 10-Q , and 8-Ks since the release of the Entity’s most recent financial data) for the Entity regardless of whether the financial statements reference the Bidder or not.
BEC-15: Under Section 1(i) of ComEd’s Contract Insert (#P1-6), the option for Federal Funds Effective Rate under Party B Interest Rate is locked and not selectable. Is the interest rate of 0% pre-specified or can suppliers select the Federal Funds Effective Rate option?
As provided in the ComEd EEI Master Agreement and Coversheet amendment to Paragraph 10 of the Collateral Annex, a 0% interest rate is the pre-specified interest rate payable to Party A on Cash held by Party B. Please refer to ComEd’s EEI Master Agreement and Coversheet, as well as the Collateral Annex Paragraph 10 (with … Continue reading Under Section 1(i) of ComEd’s Contract Insert (#P1-6), the option for Federal Funds Effective Rate under Party B Interest Rate is locked and not selectable. Is the interest rate of 0% pre-specified or can suppliers select the Federal Funds Effective Rate option?
BEC-14: I have a prior version of the Pre-Bid Letters of Credit instructions from a prior procurement event. Is the update to this document available for the BEC RFP?
The update to this document is scheduled to be provided to Bidders with the Part 1 Notification, which will be sent no later than April 8, 2019. The Procurement Administrator takes your question as a request for early issuance of this document. This document will be available by Monday April 1 upon request to the … Continue reading I have a prior version of the Pre-Bid Letters of Credit instructions from a prior procurement event. Is the update to this document available for the BEC RFP?
BEC-13: My login credentials from the Fall 2018 BEC RFP are not working. Does the Procurement Administrator issue new credentials even to returning bidders?
The Procurement Administrator activates login credentials as the Part 1 Window opens. While login credentials for returning bidders typically remain the same, those login credentials will not provide access to the online Part 1 Form prior to the start of the Part 1 Window. As a courtesy to returning bidders, the Procurement Administrator re-sends these … Continue reading My login credentials from the Fall 2018 BEC RFP are not working. Does the Procurement Administrator issue new credentials even to returning bidders?
BEC-12: Will you be posting redlines of the Final Spring 2019 Energy or Capacity Agreements to the Final Fall 2018 Energy and Capacity Agreements?
The redlines of the Draft Spring 2019 Energy and Capacity Agreements to the Final Fall 2018 Energy and Capacity Agreements are posted to the “Draft Documents” page of the Spring Block Energy and Capacity section of the procurement website. There were no changes made between the Spring 2019 Draft Energy and Capacity Agreements and Spring … Continue reading Will you be posting redlines of the Final Spring 2019 Energy or Capacity Agreements to the Final Fall 2018 Energy and Capacity Agreements?
BEC-11: I understand that there could be a payment adjustment under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will result in a reduced payment to Seller?
Under the terms of the (AIC) Capacity Agreement, payments to Seller will be reduced if the Compliance Zone ACP is greater than the Source Zone ACP where the Compliance Zone is LRZ4. If the amount of the payment reduction is greater than the unadjusted payment, then Seller (not Buyer) will have to pay Buyer under … Continue reading I understand that there could be a payment adjustment under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will result in a reduced payment to Seller?
BEC-10: I understand that there could be a payment adjustment under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will add to the payment to Seller?
Under the terms of the (AIC) Capacity Agreement, payments to Seller will only be adjusted to reflect an increased payment if the Source Zone ACP is greater than the Compliance Zone ACP where the Compliance Zone is LRZ4. For purposes of the below example, the “ACP” refers to the Auction Clearing Price from the 2020/2021 … Continue reading I understand that there could be a payment adjustment under the (AIC) Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will add to the payment to Seller?