The payment for the RECs under contract would be 372 RECs/year * $200/REC * 5 years = $372,000. The amount of the Letter of Credit would be 372 RECs/ year * $4/REC * 5 years = $7,440. The amount of the Supplier Fees would be 372 RECs/year * $7/REC * 5 years = $13,020.
The final budgets for the Spring 2017 DG RFP are available on the Announcements Page of the procurement website here: https://www.ipa-energyrfp.com/2017/04/25/dg-rfp-announcement-final-spring-budgets-for-dg-rfp/
The Letter of Credit is unrelated to the supplier fees. If the ICC approves some or all of the Bidder’s Bids, the Bidder will have seven (7) business days after ICC approval to pay to the IPA the Supplier Fees associated with those winning Bids. The ICC decision is expected on Thursday, October 19, 2017. … Continue reading When are the supplier fees due? Is the supplier fee related to the Letter of Credit in some way? Is the supplier fee different for RECs from identified systems versus RECs from forecast quantities?
An original hardcopy of the executed amendment is required. The amendment should be sent via overnight delivery service to the same address where the original Letter of Credit was sent. We appreciate but do not require that you provide a tracking number by email to Illinois-RFP@nera.com.
Under the applicable supplier contract with a given utility, there is a single blended price for each Size Class, which is calculated as the weighted average of the winning bid prices of the RECs that have been selected for award under the RFP process for that contract. As you identify systems from your Forecast Quantities, … Continue reading What happens if a Bidder wins several Forecast Quantities at different prices?
The data provided by the Procurement Administrator is the only data available regarding the results of the Spring DG procurement event.
If a system that was identified does not begin accumulating deliveries by the required deadline and it is clear that the system will not be built, the Bidder will forfeit the collateral ($4 x the number of RECs associated with this system x 5 years) associated with the RECs from such system. Furthermore, the maximum … Continue reading What are the consequences if one of our identified systems does not begin accumulating metered deliveries by the required deadline? Do amounts not spent because the systems failed get rolled over to the next DG procurement?
If a Bidder has Bids that are identified as winning Bids, the Letter of Credit issued during the Part 2 Window stays in place at the start of the supply period to the extent that some of the systems presented in the Proposal have not begun accumulating metered deliveries or to the extent that the … Continue reading If only some and not all of the Bidder’s Bids are identified as winning Bids, does the Letter of Credit stay in place as it is or is the Bidder required to provide a new Letter of Credit to reflect the number of RECs in the winning Bids?
No. The Letter of Credit must be at least in an amount equal to $4 times the number of RECs that the Bidder can win across all systems and the total Forecast Quantity across all delivery years under the applicable supplier contracts. The Letter of Credit does not need to be in an amount sufficient … Continue reading If a Bidder chooses not to bid all of the systems that were qualified through its Part 1 Proposal, is the Bidder still required to provide a Letter of Credit for the full amount in the notification from the Procurement Administrator?
If a Bidder has no Bids that are approved by the Commission, the Letter of Credit will be cancelled as soon as practicable after the Commission decision on the results of the procurement event. The ICC is expected to decide whether to accept or reject the results of the procurement event within four (4) business … Continue reading If a Bidder has no Bids that are approved by the Commission, when will the Letter of Credit be released?