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FAQs are organized into three categories:
FAQs with information that is no longer relevant are posted to the FAQ Archives page
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What is the process and timeline for a winning REC bidder posting cash as security?
Under the REC Master Agreement, ComEd may require the seller to provide performance assurance to satisfy the collateral requirement of 15% of the value of undelivered RECs. ComEd intends to make any such request by noon on the business day following the day the Confirmation is fully executed. The Confirmation is expected to be fully executed no later than three business days after an approval by the ICC of the results of the procurement event for RECs. As specified in Paragraph 4 of the Collateral Annex, as modified by the Coversheet of the REC Master Agreement, following such a request for performance assurance in the form of cash, the performance assurance is required by the close of business on the next business day. Please note that any RECs delivered to ComEd's PJM-EIS GATS or M-RETS Account prior to June 1, 2010 will reduce the seller's collateral requirement under the REC Master Agreement.
Does the same Officer who executed the Coversheet to the REC Master Agreement need to also execute the confirmations?
The confirmations need to be executed by an authorized officer of the REC Bidder (i.e., an individual empowered to undertake contracts and bind the REC Bidder). The officer of the REC Bidder who signs the confirmation need not be the same officer who executed the signature pages of the REC Master Agreement. However, if the officer signing the confirmation is not the same individual who executed the signature pages of the REC Master Agreement, the REC Bidder must advise ComEd of that fact, confirm that the officer is authorized to sign the confirmation, and provide the name, title, and contact information of the individual executing the confirmation.
For winning suppliers, can ComEd provide a credit contact that can provide the current "Exposure Amount" including the "Mark to Market Value"?
As specified in the cover sheet of the Master Agreement, please contact: Manager of Wholesale Billing and Credit Phone: 630-684-3582 Facsimile: 630-684-3580, Email: wb&cstaff@comed.com.
We may have certain exceptions to the representations of the Part 2 Proposal due to our particular business arrangement with certain counterparties, none of whom are REC Bidders. Is there any information that we can provide to the Procurement Administrator or any undertaking that we could make that would make possible our continued participation in the RFP?
Please submit with your Part 2 Proposal:
-- the identity of the counterparties; -- your exceptions to the representations of the Officer of the REC Bidder with any necessary explanations. For any such case, the Procurement Administrator will review your response and may require additional information or undertakings on a case-by-case basis. Upon receipt of any additional materials, the Procurement Administrator will determine whether your continued participation in the RFP is possible.
Would ComEd accept ERCOT REC deliveries rather than M-RETS or GATS?
Participation in PJM-EIS GATS and/or M-RETS is a requirement and all RECs delivered to ComEd under the terms of the REC Master Agreement must be through PJM-EIS GATS or M-RETS. Please see Section 2.5 of the REC Master Agreement (as updated in the Cover Sheet of the REC Master Agreement) that states, "[the] Parties agree to follow the specific delivery rules applicable to PJM EIS GATS and/or M-RETS, as appropriate. The Seller shall Deliver PJM EIS GATS and/or M-RETS RECs by initiating transfer to the PJM EIS GATS and/or M-RETS account of the Buyer. The transfer of the PJM EIS GATS and/or M-RETS RECs shall represent a transfer of and valid title to such PJM EIS GATS and/or MRETS RECs free and clear of any lien or other encumbrance."
We note that there are discussions underway between several of the REC tracking systems, including M-RETS, to permit transfers between REC tracking systems in the future. There is no agreement in place at this time between ERCOT and MRETS. However, you may wish to inquire with M-RETS regarding any plans to allow transfers from other REC tracking systems in the future.
Will ComEd and Ameren accept Green-e certified products?
For ComEd, participation in PJM-EIS GATS and/or M-RETS is a requirement and all RECs to be delivered to ComEd under the terms of the REC Master Agreement must be through PJM-EIS GATS or M-RETS. Please see Section 2.2 of the REC Master Agreement, which states: "Payment shall only be made for those RECs Delivered or transferred to Party B's PJM EIS GATS and/or M-RETS account." Section 2.5 of the REC Master Agreement (as updated in the Cover Sheet of the REC Master Agreement), also states that "the Parties agree to follow the specific delivery rules applicable to PJM EIS GATS and/or M-RETS, as appropriate. The Seller shall Deliver PJM EIS GATS and/or M-RETS RECs by initiating transfer to the PJM EIS GATS and/or M-RETS account of the Buyer. The transfer of the PJM EIS GATS and/or M-RETS RECs shall represent a transfer of and valid title to such PJM EIS GATS and/or M-RETS RECs free and clear of any lien or other encumbrance."
We have transmitted your question to the Ameren Procurement Administrator.
On the front page of your website you state that Part 2 date and the bid date are May 6th and May 11th respectively. On your Bidder information call slides the dates are May 13th and May 18th. Which are the correct dates?
Thank you for bringing this to our attention. The correct dates have been posted to the front page of the RFP Web site. A complete calendar of the Renewables RFP is available on the Calendar page.
We need to change the Officer of the REC bidder to include TWO officers at our company. Neither of these officers can be the Officer we named in our Part 1 Form. Please indicate the means of changing our Officer to two Officers.
The REC Rules specify that the Officer of the REC Bidder executing the signatures pages of the two (2) originals of the REC Master Agreement submitted with the Part 2 Proposal must be the Officer designated in the Part 1 Proposal and whose contact information is confirmed in the Part 2 Proposal. Since you now require two new individuals to sign the REC Master Agreement as officers, we require that you resubmit the Part 1 Form using one of the officers (the "first officer"), and that you provide additional information and representations from the other officer (the "second officer"). Specifically we require that you: 1) submit three (3) originals of the completed Part 1 Form signed by the first officer; 2) submit three (3) additional originals of section 1 of the Part 1 Form with the full contact information for the second officer; 3) submit three (3) originals of the representations in Section 1 and the representations in Section 4 signed by the second officer. You may provide the additional signatures on the three (3) originals of the completed Part 1 Form signed by the first officer or you may use three (3) additional originals of the Part 1 Form at your option; 4) submit an explanatory note in a cover letter that the officer named in your Part 1 Proposal has changed and that your corporate structure requires two individuals to bind the company. Please note that you may, but are not required to, submit the signature of the second officer on all certifications.
These documents must be provided no later than the Part 2 Date of May 13, 2010. However, we note that the Procurement Administrator must prepare a new REC Master Agreement with the information from both officers. We will provide a new REC Master Agreement to you within a business day. You will be required to execute and include the signature pages from the REC Master Agreement with your Part 2 Proposal.
Will you be sending winners in the Standard Products RFP a copy of a fully executed Supplier Fee Confirmation? We would like a copy for our records.
The Supplier Fee Confirmation does not require ComEd to countersign. The supplier fee is required by Section 1-75(h) of the Illinois Power Agency Act (20 ILCS 3855/1-75(h)) and the Supplier Fee Confirmation is provided for you to acknowledge that you will pay the Supplier Fee to the Illinois Power Agency ("IPA") by June 30, 2010. Please make a copy of the executed confirmation for your records.
The Supplement to the Part 1 Form provided various elections for the Guaranty. Option 1 was the Guaranty amount and we had input an amount based on the new Threshold grid in the EEI Collateral Annex. The Threshold grid has changed back to the same as last year. If we are a qualified bidder, can we change the Guaranty amount per the new threshold grid?
ComEd prepared the Guaranty using the elections that an RFP Bidder provided in the Supplement and the RFP Bidder provided this Guaranty with their Part 2 Proposal. The Guaranty amount can be changed after the execution of the Master Agreement and the Guaranty in accordance with the terms of the Guaranty, including paragraphs 9, 11, and 12. ComEd will agree to changes in the Guaranty amount either up or down so long as the revised amount in combination with other performance assurance results in the supplier meeting all credit requirements at that time. All requests should be sent to the addresses provided in paragraph 12 of the Guaranty. ComEd will process all requests for changes within five (5) business days of receipt of the notice.
