The Average Winning Bid Price of $52.43/MWh is an average of the winning strike price for the winning utility-scale wind, utility-scale solar, and brownfield site photovoltaic projects weighted by the annual quantity of RECs awarded for each project.
Archives
Indexed REC-70: Can you provide a list of all projects that participated in the Spring 2022 Indexed REC RFP?
A list of all projects that participated in the Spring 2022 Indexed REC RFP is not available. In accordance with Section 16-111.5(h) of the Illinois Public Utilities Act, the following information is made public at the time of Commission approval of a procurement event under the Indexed REC Procurement: (i) the names of successful bidders; … Continue reading Can you provide a list of all projects that participated in the Spring 2022 Indexed REC RFP?
Indexed REC-69: Can you provide an overview of the qualification standards and bidding process for utility-scale solar projects in the Indexed REC RFP?
The Indexed REC RFP will seek to procure renewable energy credits (“RECs”) from new utility-scale wind projects, new utility-scale solar projects, and new brownfield site photovoltaic projects. As defined by the Act, a utility-scale solar project means an electric generating facility that generates electricity using photovoltaic cells and that has a nameplate capacity greater than … Continue reading Can you provide an overview of the qualification standards and bidding process for utility-scale solar projects in the Indexed REC RFP?
Indexed REC-68: How do I register to receive updates and information related to the Indexed REC RFP?
The procurement website (www.ipa-energyrfp.com) provides information to suppliers participating in the Illinois Power Agency’s competitive procurement events. When a procurement event is scheduled, information pertaining to the procurement will be posted to the procurement website. The schedule will be posted to the Calendar page and an announcement will be sent to all website registrants at … Continue reading How do I register to receive updates and information related to the Indexed REC RFP?
Indexed REC-67: When will the next Indexed REC RFP be held and what are the expected REC quantities to be procured?
As proposed in the Long-Term Renewable Resources Procurement Plan (“2022 Long-Term Plan”) the IPA filed with the Illinois Commerce Commission (“ICC”) on March 21, 2022, the next Indexed REC RFP for new utility-scale wind, new utility-scale solar, and new brownfield site photovoltaic projects is expected to be held in Fall 2022, with bids due in … Continue reading When will the next Indexed REC RFP be held and what are the expected REC quantities to be procured?
Indexed REC-66: Is the IPA proposing any competitive procurements for RECs from renewable energy resources other than wind and solar?
The IPA filed its Long-Term Renewable Resources Procurement Plan (“2022 Long-Term Plan”) with the Illinois Commerce Commission (“ICC”) on March 21, 2022. Section 5.5.4 of the 2022 Long-Term Plan states: “The Agency is not proposing any procurements of RECs from resources other than new wind and new photovoltaic projects; this includes both other renewable energy … Continue reading Is the IPA proposing any competitive procurements for RECs from renewable energy resources other than wind and solar?
Indexed REC-65: Can you provide the winning bid prices by project?
The winning bid prices by project are not available. In accordance with Section 16-111.5(h) of the Illinois Public Utilities Act, the following information is made public at the time of Commission approval of a procurement event under the Indexed REC Procurement: (i) the names of successful bidders; and (ii) the average of the winning bid … Continue reading Can you provide the winning bid prices by project?
Indexed REC-64: What is the Letter of Full Transfer (Schedules 1-3) and is it required to be completed by the deadline to provide post-bid collateral?
Any transfer request for the post-bid letter of credit must be presented utilizing one of the forms of the Letter of Full Transfer (Schedules 1-3) together with the original Letter of Credit and original amendments, if any. The Letter of Full Transfer does not need to be completed at the time the post-bid letter of … Continue reading What is the Letter of Full Transfer (Schedules 1-3) and is it required to be completed by the deadline to provide post-bid collateral?
Indexed REC-63: What is the initial collateral requirement amount under the Indexed REC Contract with a Company and when is it due?
Please note that if you have a Project with a winning Bid approved by the Illinois Commerce Commission (“Commission”), the annual quantity in the RFP that is approved will be allocated to each of the three Companies. For each Company, the Collateral Requirement for a utility-scale wind project is equal to $4 times the annual … Continue reading What is the initial collateral requirement amount under the Indexed REC Contract with a Company and when is it due?
Indexed REC-62: Can you provide instructions on the payment of the Supplier Fee?
Payment of the Supplier Fee is to be made to the Illinois Power Agency by the Bidder or Seller for Projects with winning Bids approved by the Illinois Commerce Commission (“Commission”). The Supplier Fee is due within seven (7) business days after Commission approval of the Bids. Information regarding payment of the Supplier Fee (i.e., … Continue reading Can you provide instructions on the payment of the Supplier Fee?