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FAQs are organized into these categories:
FAQs with information that is no longer relevant are posted to the FAQ Archives page
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What is the vintage of RECs eligible for a given compliance period?
The RECs provided in a compliance period that starts at the beginning of June of a given year and concludes at the end of May of the following year must be generated from January of that year to May of the following year. So, for example, for the compliance period from June 1, 2014 to May 31, 2015, RECs provided must be created as generation during the period January 1, 2014 to May 31, 2015.
Is it possible to obtain the Federal Tax ID Number, the DUNS Number, and banking information for the Illinois Power Agency?
The only information available for the Illinois Power Agency is the information provided in its W-9. The W-9 is available from the Procurement Administrator upon request.
Can an entity that has qualified without a Guarantor later put forth the financial worthiness of a guarantor as long as the guarantor will agree to ComEd’s form of guaranty (including any approved changes)?
This would be acceptable to ComEd after ComEd has confirmed the creditworthiness of the guarantor.
Is there a minimum percentage of RECs that the seller must have delivered by the Delivery Date for each Delivery Season?
Please see Article 5 of the Coversheet to the REC Master Agreement, which states:
"For any Delivery Year except for the December-2017 Delivery Year:
(i) By Delivery Date for Summer Delivery Season of a Delivery Year, the minimum portion of the value of RECs that the Seller must have Delivered is ten percent (10%) of the aggregate value of all RECs for that Delivery Year under the Confirmation.
(ii) By Delivery Date for Fall Delivery Season of a Delivery Year, the minimum portion of the value of RECs that the Seller must have Delivered is thirty percent (30%) of the aggregate value of all RECs for that Delivery Year under the Confirmation.
(iii) By Delivery Date for Winter Delivery Season of a Delivery Year, the minimum portion of the value of RECs that the Seller must have Delivered is sixty percent (60%) of the aggregate value of all RECs for that Delivery Year under the Confirmation.
(iv) By Delivery Date for Spring Delivery Season of a Delivery Year, the minimum portion of the value of RECs that the Seller must have Delivered is one hundred percent (100%) of the aggregate value of all RECs for that Delivery Year under the Confirmation.
For the December-2017 Delivery Year:
(v) By Delivery Date for Summer Delivery Season, the minimum portion of the value of RECs that the Seller must have Delivered is twenty percent (20%) of the aggregate value of all RECs for the December-2017 Delivery Year.
(vi) By Delivery Date for Fall Delivery Season, the minimum portion of the value of RECs that the Seller must have Delivered is fifty percent (50%) of the aggregate value of all RECs for the December-2017 Delivery Year.
(vii) By Delivery Date for Winter Delivery Season, the minimum portion of the value of RECs that the Seller must have Delivered is one hundred percent (100%) of the aggregate value of all RECs for the December-2017 Delivery Year.
I have been the representative and point of contact for the Procurement Administrator but I am not going to be available on the Bid Date. Whose contact information should I include on the Bid Form?
The contact information on the Bid Form should be the contact information of the individual who will be submitting bids. This individual must be authorized to do so and must electronically sign the certification on the Bid Form.
Is there a minimum of RECs that we need to bid?
No. However, there may be a maximum number of RECs that you can bid since your Pre-Bid Letter of Credit must be sufficient to support your bids.
What are the targets for wind and solar photovoltaic RECs?
The Procurement Administrator has posted the REC targets to be procured from all sources each compliance period. These were developed from the ComEd load forecast and the statutory REC percentages for each compliance period less the total amount of RECs purchased in the 2010 long-term procurement. The total wind and photovoltaic thresholds will be 75% from wind and 6% from solar photovoltaics (1.5% in compliance period May14 and 3% in compliance period May15) applied to the total annual amount of RECs required. The thresholds specifically for this Rate Stability (“RS”) procurement result from the threshold for the total amount of RECs to be purchased less the amount of each type purchased in the 2010 long-term procurement. For example, if 2,000 total RECs are required in a compliance period, 75% or 1,500 RECs would be the wind volume for that compliance period. If 1,400 wind RECs were purchased in the 2010 long-term procurement, then 100 wind RECs would be the volume to be purchased as a preference in this RS REC RFP. If 1,600 wind RECs were purchased in the 2010 long term procurement, then volume to be purchased as a preference would be zero in this RS REC RFP. The volume to be purchased as a preference in this procurement can be zero, can be more than the thresholds of 75% or 6%, or can be less than the 75% and 6% thresholds.
The Illinois Commerce Commission has ruled that certain information from the 2010 long-term procurement is confidential. Releasing exact volumes of wind and solar in each compliance period could indirectly provide the data needed to deduce such confidential information. Hence, we will be unable to release the solar and wind thresholds for this RS REC RFP as a percent of the Targets. We repeat for your convenience the Targets and Budgets for each compliance period below:
Compliance Period
Target (RECs)
Final Budget ($)
Jun 2013 - May 2014
1,339,909
$5,110,904
Jun 2014 - May 2015
623,577
$2,319,187
Jun 2015 - May 2016
202,479
$1,724,639
Jun 2016 - May 2017
299,672
$751,336
Jun 2017 - Dec 2017
308,954
$581,031
Originally posted as FAQ-65. Revised on 2/15/2012.
Does the 10% collateral requirement mean that a Supplier provides Performance Assurance for 10% of the winning REC bids? For example, if Supplier X wins a bid to sell 1,000 RECs at $5.00 each (for a total amount of $5,000), does Supplier X post Performance Assurance in the amount of $500?
Yes. As RECs are delivered the outstanding value and required Performance Assurance declines. Hence, if the Supplier delivers half of the RECs by the six month of the compliance period, it would need only $250 in Performance Assurance at that time. Additionally, please note that liquid Performance Assurance (cash or a letter of credit) need only be posted for requirements in excess of any unsecured credit for which the Supplier or its Guarantor qualifies. Please also note that there is a minimum transfer amount ($50,000). Thus, in the specific example above no actual Performance Assurance would need to be posted (see also FAQ-13). Once the total value of the REC contracts for that Supplier exceeded $500,000, then the above would be applicable. Furthermore, Suppliers that are rated entities or are using Guarantors that are rated entities would also be eligible for up to $5M as a Maximum Collateral Threshold Amount level, if they meet the rating requirements in the contract.
Originally posted as FAQ-37. Revised on 2/15/2012.
Does the supplier fee of $60,000.00 apply to a block of 50 MW for the entire term or to a block of 50 MW over one year?
The supplier fee is $60,000 for one block of 50 MW for the entire term.
The Bid is what the Bidder is willing to accept to deliver each MWh of one block from June 1, 2013 to May 31, 2014 with price escalating by 2.5 percent per annum each June 1 starting from June 1, 2014. Is the 2.5% increase calculated from the prior year price or from the original bid price?
The 2.5% escalator means the contract price increases by 2.5% per year. The 2.5% increase is calculated on the basis of the prior year price (not on the basis of the original bid price for all years).
