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In the Rate Stability (“RS”) REC RFP, bids for each compliance period will be evaluated separately. Will we be required to submit different bids for each compliance period? Will we be required to submit a different Bid Form for each compliance period?
A Bidder must provide separate bids for each compliance period. However, bids for all compliance periods can be provide in a single submission. The Bid Form has different tabs for each compliance period so that you can submit all Bids for all compliance periods at once.
Slide 7 of the presentation from January 12, 2012: at least 6% of the supply should come from renewable energy resources, the percentage increases to 7% in planning year in 2013 and it increases by 1-1.5% every year thereafter. Please clarify the discrepancy between the Act and what is in the presentation about the REC requirement percentages?
The percentages ratchet up yearly and are consistent with the Act. The presentation is simplified and refers only to a single year.
The Bid Date for the Rate Stability (“RS”) Block RFP is on Friday February 10, 2012. With Monday being a holiday, potentially the Illinois Commerce Commission (“ICC”) will not make a decision until Friday, February 17, 2012. Is this date flexible?
No. It is not feasible to hold the procurement earlier. Holding the procurement later would not be a solution as Monday 2/20 is also a holiday and the procurement by law must be complete within 120 days of PA 97-0616 becoming effective. The time allowed for ICC approval is set by legislation. There will always be same gap between the Bid Date and ICC approval. The Procurement Administrator will, however, undertake to inform bidders in the energy RFP by the close of business on the Bid Date whether their bids will be recommended to the ICC for approval.
When will the Part 1 and 2 Forms be posted?
The final Part 1 and Part 2 Forms are posted to the Rate Stability Winter Procurement page: http://www.comed-energyrfp.com/rateStability.asp.
We understand that there are specific requirements for an RFP Bidder that relies on a foreign parent/guarantor for purposes of the Rate Stability ("RS") Block RFP. However we do not see any specific requirements for participation in the RS Block RFP by a foreign entity. What are the financial requirements associated with the RS Block RFP for a foreign entity?
As stated in Article IV of the RS Block RFP Rules, a Bidder that is relying on its own financial standing must submit recent financial information for the Bidder in its Part 1 Proposal. The Bidder must submit, if available: (i) its most recent audited annual financial information, including a balance sheet, income statement, cash flow statement, and any accompanying notes and schedules. If available, the Securities and Exchange Commission ("SEC") Form 10-K should be submitted to fulfill this requirement; (ii) its most recent quarterly financial data, including a balance sheet, income statement, cash flow statement, and any accompanying notes and schedules. If available, the SEC Form 10-Q should be submitted to fulfill this requirement. If the SEC Form 10-Q is unavailable, the most recent quarterly or monthly financial data must be accompanied by an attestation by an officer of the Bidder that the information submitted fairly presents in all material respects the financial condition and results of the operations of the Bidder. The requirements for this attestation are more specifically provided in Appendix 5 of these RS Block Rules. If the SEC Form 10-Q is unavailable, the Bidder must also either provide a review report from an independent accountant for the most recent quarterly or monthly financial data submitted or state that such a report is not available; and (iii) any public financial disclosure made since the release of the Bidder's most recent financial data for any matters that are material to the Bidder's financial condition. If available, SEC Forms 8-K should be submitted to fulfill this requirement. If the Bidder's information forms part of the financial information of a parent, the Bidder is asked to provide a section or page reference where its financial information is provided. Further, the Bidder must submit any available rating from the following rating agencies: Standard & Poor's Rating Services ("S&P"), Moody's Investors Service, Inc. ("Moody's"), and Fitch, Inc. ("Fitch").
As a foreign entity participating in the RS Block RFP, please note that the Master Agreement, which is a standard contract and all Bidders must agree with its terms, includes requirements that the supplier be a member of PJM, be a forward contract merchant within the meaning of the United States Bankruptcy Code, and be an eligible contract participant within the meaning of the U.S. Commodity Exchange Act. Each Bidder must arrive at its own determination of whether the Bidder can meet those requirements.
In the Supplement to the Part 1 Form on page 5, there is a section called “Party B Eligibility to Hold Cash”. Who is Party B? Can you provide a reference in the Master Agreement related to this section?
Party B refers to ComEd in the Master Agreements. Please consult the cover sheet of the Master Agreement for an explanation of the options of Party B’s eligibility to hold cash.
Section 1 of the Part 1 Form (page 5) says that if a Bidder submitted the Pre-Qualification Application for the Ameren RFPs, requested that information be transmitted to the ComEd Procurement Administrator, and if the Bidder does not have any changes to make to the contact information, the Bidder should proceed to the fourth and last item in this section, "Representations of the Officer of the Bidder." Should this read “fifth and last item, Representations of the Officer of the Bidder” or did you mean that the Bidder should proceed to the fourth item (which is the nomination of the Representative of the Bidder)?
We confirm that you should proceed to the fifth and last item in that Section “Representations of the Officer of the Bidder”. Thank you for bringing this to our attention.
In Section 3 (Officer Representations) of the Part 1 Form, if a Bidder elects to provide additional information regarding the energy source generating the RECs should the Officer leave that signature line blank and simply provide the additional information regarding the energy source?
In the second item of Section 3, EITHER: the Officer of the Bidder makes the representation that the Bidder intends to bid and supply RECs ONLY from those renewable energy resources specifically named in the Act; OR: the Bidder provides information regarding each energy resource NOT specifically named in the Act that the Bidder intends to bid and supply. A Bidder should do one or the other; a Bidder should not both sign the representation and provide information regarding renewable energy resources not specifically named in the Act.
Are we exempt from paying the Bid Participation Fee for the 2012 Rate Stability Winter procurements if we paid a Bid Participation Fee for the 2011 Spring procurements?
All Bidders are required to pay the Bid Participation Fee for the 2012 Rate Stability Winter procurements. A Bid Participation Fee paid for the 2011 Spring procurements may not be used to fulfill this requirement. (However, a single Bid Participation Fee is required for the ComEd and Ameren 2012 Rate Stability Winter procurements).
Our parent’s corporate policy requires two (2) signatories to the Guaranty. How should we present our Part 1 Proposal?
The Procurement Administrator will prepare the Guaranty with an additional signature block for the second Officer. For purposes of presenting your Part 1 Proposal, please submit a second Supplement with the information for the second signatory and submit an explanatory note in a cover letter that two signatories are required for the guaranty.
