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If we bid and are accepted, what are the consequences if we do not pay the supplier fee within 60 days?
A successful bidder is required to pay the supplier fee by law. The supplier fee, and the ability of the Illinois Power Agency to require such payment, are mandated by the Illinois Power Agency Act. Should you fail to pay, you will be subject to all legal consequences and remedies available to the Illinois Power Agency and the utilities. Furthermore, in submitting the Part 2 Proposal, you have acknowledged and agreed to the obligation to pay the supplier fee within 60 days. Should you fail to honor this obligation, you will be found to have made a material misrepresentation in a Proposal and contract submitted to the Illinois Power Agency for approval by the Illinois Commerce Commission. The material misrepresentation would be sufficient grounds to approach the Commission with a request to impose sanctions including potentially canceling the contract of the entity that fails to pay.
What are the financial ramifications if a bidder chooses not to bid or submits a bid for some but not all the Projects that it qualified for the Long-Term RFP?
There are no financial consequences to you electing not to submit Bids for a Project that has qualified to bid in the Long-Term RFP. Qualification of a Project (through meeting all requirements of the Part 1 and Part 2 Proposals) is required for you to be able to submit Bids for the Project, but qualification of a Project does not obligate you to submit Bids for that Project. Similarly, if you qualified several Projects, you may submit Bids for only some of the qualified Projects.
The bid form asks for a percentage. Is it the percentage of MWs that a bidder is bidding in relation to plant capacity?
Please review the Sample Confirmation of the Long-Term Master Agreement. It is entirely and solely the responsibility of each Bidder to review the RFP documents and the Long-Term Master Agreement so as to understand each element of the Proposal that the Bidder submits. As stated by the RFP Rules, a Bidder bids to supply the Applicable Percentage of the energy and associated RECs generated from the specific renewable energy resource up to the Annual Contract Quantity in each year of the Long-Term Master Agreement. Thus, the Applicable Percentage represents the percentage of the Project’s production that you elect to dedicate to the Long-Term Master Agreement. For example, if you elect 100%, then all the hourly energy generated by the Project will go toward meeting your obligations under the Long-Term Master Agreement up to the Annual Contract Quantity. The Applicable Percentage must be a percentage that is no less than 0.01% and no more than 100.00%. The percentage will be rounded to two decimals (i.e., xx.xx%). Please note that you may amend the Applicable Percentage that you submitted on your Bid Form, and only the Applicable Percentage, during the contract execution process and upon notification to ComEd.
When is the post-bid collateral due?
A Bidder with an approved Project must post collateral equal to $5 multiplied by three (3) times the Annual Contract Quantity for that Project using cash or a Letter of Credit by 12 PM CPT (1 PM Eastern Prevailing Time) of the business day during which the hardcopy original of the Confirmation is received by ComEd. This would occur on the third day after the ICC approves the Bids for the Project. Please see Part 5 of the Schedule to the Long-Term Master Agreement or Paragraph VI.2.15 for a complete timeline of the contract execution process.
Are there any signatures needed from the Officer of the Bidder upon winning a bid?
Yes. The Officer will be required to sign the Confirmation(s) corresponding to the approved Projects. Please see Part 5 of the Schedule to the Long-Term Master Agreement or Paragraph VI.2.15 for a complete timeline of when these documents must be executed.
The Procurement Administrator will not recommend bids that exceed the budget of $22,868,155. The Procurement Administrator calculates the expenditure based on the adjusted bids, which are the difference between the submitted bid and the around-the-clock value for energy adjusted by the resource factor: Adjusted Bid = Bid – (around the clock energy x resource factor). The resource factors are 0.98 for wind, 1.20 for solar, and 1.00 for all other resources. Please see Appendix 5 to the Long-Term RFP Rules, which describes the evaluation process. Please note that the budget established for the Long-Term RFP is not an annual budget. Over the course of the Long-Term Agreement, there is no separate budget for the Long-Term contracts or given percentage of the RRB that is specifically for the Long-Term contracts. Rather, there is an overall Renewable Resource Budget (“RRB”), which is an amount calculated each year in accordance with the Act, and which applies to all purchases of renewable resources (purchases from this Long-Term RFP and any other purchases necessary to meet the Renewable Portfolio Standard of the Act). The RRB is set for any given Delivery Year (June 1 of a given year until May 31 of the following year) as an amount per MWh (“MWh-Amount”) times the forecasted sales of eligible retail customers at the customer meter for that Delivery Year. The RRB is filed by the IPA with the Commission as part of the annual procurement plan. Please see pages 2 and 3 of Appendix K under the sub heading "Application to the RPS" for a description of the calculation of the imputed REC component of expenditures under the long-term contracts. The IPA filed Appendix K, which contains recommendations for the procurement of renewable energy and Renewable Energy Credits (“RECs”) on a long-term basis, and Appendix K was approved by the Commission. Appendix K states that this calculation “will be determined as the difference between the expected annual contract expenditures for that year (based on the winning target Contract Quantities and Contract Prices) and the total target Contract Quantities times the forward price curve for each respective load zone for that year.” 12/1/2010, in Long-Term Renewable Energy and RECs RFP.
What are the acceptable forms of collateral under the Long-Term Master Agreement?12/1/2010, in Long-Term Renewable Energy and RECs RFP.
Section V.3.5 provides that Pre-Bid Security can be drawn or demanded in the event that the bidder fails to post required collateral in the timeframe specified by the Long-Term Master Agreement. Only the posting of the REC Exposure Amount is due upon execution of the Long-Term Master Agreement.12/1/2010, in Long-Term Renewable Energy and RECs RFP.
The Part 1 Proposal is specific to a Project. A Bidder that qualifies a Project under the Long-Term RFP by submitting a Part 1 Proposal that fulfills all requirements described in Article IV of the RFP Rules may submit a Part 2 Proposal for that Project. No substitution is possible. 12/1/2010, in Long-Term Renewable Energy and RECs RFP.
There is no difference for generators inside or outside of the ComEd zone. All Sellers are required to generate from an identified generating unit and to deliver such generation to a transmission or distribution system. The risk and costs of being able to interconnect to a transmission or distribution system are the responsibility of the Seller. There is however no need to transmit power to the ComEd zone and the Seller does need bear the costs or risks of delivery. The Seller will be able to sell their energy at the point of interconnection or any other location to which it chooses to transmit the energy generated. The Long-Term Master Agreement pays the Seller the difference between the Selected Price and the hourly day ahead price at the ComEd zone. Hence, if the price available at the point of interconnection is less than the price at the ComEd zone, the Seller will realize less than the Selected Price; conversely, if the price available at the point of interconnection is greater than the price at the ComEd zone, the Seller will realize more than the Selected Price.
