The Average Winning Bid Price of $72.59/MWh is an average of the winning strike price for the winning utility-scale solar and brownfield site photovoltaic projects weighted by the annual quantity of RECs awarded for each project.
Reporting requirements and due dates vary based on the stage of development of the Project. Please refer to the Indexed REC Contract, including but not limited to Article 6 of the Indexed REC Contract, for further information.
As stated in Section 15.5 of the Indexed REC Contract, unless otherwise specifically provided herein or in a Product Order, “day” means a calendar day and includes Saturdays, Sundays and holidays. The MES Compliance Plan shall be submitted to the IPA within thirty (30) calendar days of the Commission Bid Approval Date (December 15, 2022), … Continue reading When is the first MES Compliance Plan submission deadline, is it within thirty (30) calendar days or business days of the Commission Bid Approval Date?
The evaluation of bids proceeds independently for each Category as described in paragraph I.2.11. of the RFP Rules. In the first step, for a given Category, the evaluation of bids eliminates the bids with strike prices that fail to meet or beat the benchmark. Benchmarks are established by the Procurement Administrator, in consultation with the … Continue reading Are Bids evaluated independently for each Category of Project?
At this time the Procurement Administrator cannot provide an example with the specific inputs provided in your question; however, a previously prepared illustrative example to show how the REC monthly price and the associated invoice amount are calculated is available here.
The Index Price, as defined in the Indexed REC Contract, means the real-time energy settlement price at the applicable Illinois trading hub, as indicated in the Product Order. Specifically, this means either the hourly Real-Time Locational Marginal Price for the Midcontinent Independent System Operator, Inc’s (“MISO”) Real-Time Energy and Operating Reserve Market for the Illinois … Continue reading How is the Index Price calculated?
No. Under the Indexed REC RFP, each Company initiates the return of the posted cash, for a Seller that has a Project with an approved Bid, once: (1) you have fully executed the Indexed REC Contract and provided any required Performance Assurance; (2) you have paid the Supplier Fee to the IPA; and (3) the … Continue reading Can cash submitted for bid assurance collateral in the Part 2 Proposal be offset against the collateral requirement required under the Indexed REC Contract, so that only the difference is due?
The Illinois Power Agency Act (“IPA Act”) requires that benchmarks are kept confidential. Benchmarks are established by the Procurement Administrator, in consultation with the IPA, the Procurement Monitor, and the ICC Staff. The benchmark is subject to review and approval by the Commission. Section 1-75(c)(1)(D) of the Act states that, “Renewable energy credits shall be … Continue reading How are benchmarks calculated?
No. The list of acceptable modifications to Post-Bid Letter of Credit is only available in PDF file format. The list of final acceptable modifications to the Post-Bid Letter of Credit is posted to the Procurement website here.
The Final RFP Project Percentage in the Bid Form will be used for purposes of the Indexed REC Contract and will be the percentage of the Project’s Actual Production, as offered by Seller through the RFP and as indicated in the Product Order under the Indexed REC Contract. It may not be amended during the … Continue reading What is the Final RFP Project Percentage used for in the Standing Order?