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Renewable Energy Credits RFP
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The renewable energy credit volume shall be based on the number of credits that would satisfy the requirements of subsection (c) of Section 1-75 of the Illinois Power Agency Act, subject to the rate impact caps and other provisions of subsection (c) of Section 1-75 of the Illinois Power Agency Act. The maximum procurement quantities for each term are shown in the table below:
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Request for Proposals (Posted 1/9/12)
RFP Attachment B - REC Agreement
Attachment B - REC Agreement (Draft) (Posted 1/9/12)
Redline of Draft REC Agreement Against 2011 Final REC Agreement (Posted 1/11/12)
Final REC Agreement (Posted 2/10/12)
Final REC Agreement Redline Against Draft (Posted 2/10/12)
Attachment C - Form of Pre-Bid Letter of Credit (Posted 1/9/12)
Acceptable Modifications to RECs Pre-Bid Letter of Credit (Last Updated 1/27/12)
Pre-Qualification Application (Posted 1/9/12)
Submission deadline: 12:00 noon CPT on January 23, 2012 by email (aiurfp@levitan.com) or fax (617-531-2826)
Bid Participation Fee Payment Instructions (Posted 1/9/12)
Bidder Registration Form (Posted 1/25/12)
Supplier Fee Binding Agreement (Posted 1/25/12)
The Supplier Fee for the 2012 Rate Stability RECs RFP has been set at $0.05/REC.
REC Bid Form (Posted 1/25/12)
REC Bid Form Submission Instructions (Posted 1/25/12)
RECs Bidder Practice Session Presentation (Posted 2/14/12)
Submit Bid Form (Link will open a new window)
The bid submission window is now closed
Additional documents can be found on the Documents page.
Q&A Submit a Question
When will winning bidders be required to provide post-bid collateral?
If a winning bidder is relying on a guarantor for unsecured credit, the guaranty will be due at contract execution. Ameren will provide collateral requests as necessary after contract execution. The timeline to provide collateral in response to the request is stated in section 11(f)(2) of the final REC Agreement.
(Posted 2/15/12)
Step 2 of the bid evaluation process outlined in Attachment A to the RFP states that bids will be selected "such that the proportional progress toward the WT and PT occurs in parallel." Please clarify how this will work if equal progress toward the WT and PT is not made in Step 1.
To begin Step 2, we will select bids to bring the proportional progress toward the WT and PT to the same level, and will proceed in parallel from that point.
(Posted 2/14/12)
To what address should the original pre-bid letter of credit be sent?
Per the instructions in paragraph 15 of the LC, the original should be sent to:
Managing Supervisor, Credit Risk Management
Ameren Services 1901 Chouteau Avenue, MC 960 St. Louis, MO 63103 (Posted 2/3/12)
Can qualified bidders provide cash as post-bid collateral in lieu of a Letter of Credit?
Yes, cash can be posted as post-bid collateral under the REC Agreement, see Section 11(f).
(Posted 1/20/12)
Can qualified bidders provide cash as pre-bid security in lieu of a Letter of Credit?
No, only a letter of credit in the form of Attachment C to the RFP (with acceptable changes) can be posted as Pre-Bid Security. This requirement is consistent with the Illinois Power Agency's prior procurements of capacity, energy and renewable energy credits for Ameren Illinois. The Procurement Administrator does not consider the letter of credit requirement to be unduly burdensome for bidders. Therefore cash or other collateral cannot be provided as a substitute for the pre-bid letter of credit.
(Posted 1/20/12)
What is the performance collateral required for winning bidders? Do you know if it is the same for ComEd?
The collateral terms for the REC RFP can be found in section 11(f) of the REC Agreement. Information about the ComEd procurement is available here.
(Posted 1/20/12)
Is there a draft LOC due with the initial Pre-Qualification materials, or is February 7th the only LOC due date?
Bidders have the opportunity to submit modifications to the pre-bid letter of credit by February 2nd for review by the Procurement Administrator, but this is not required for participation in the procurement. Submission of a $10,000 pre-bid letter of credit by February 7th as part of the registration process is the only letter of credit requirement to participate in bidding.
(Posted 1/18/12)
Will future spring REC procurements be held?
The spring 2012 REC procurement will be held as described in the IPA Procurement Plan and ICC Order in Docket No. 11-0660. Future IPA procurement plans are expected to provide for the procurement of RECs as required to meet renewable energy resource portfolio standards.
(Posted 1/18/12)
Do the RECs need to be generated in Illinois?
No. RECs can be bid into either the Illinois and Adjacent States classes, which include RECs from Illinois, Wisconsin, Indiana, Iowa, Kentucky, Michigan and Missouri, or the Other States classes, which include RECs from all other states.
(Posted 1/18/12)
What are the credit requirements under the REC Agreement?
The credit and Performance Assurance terms of the REC Agreement can be found in section 11(f).
(Posted 1/18/12)
Have the Applicable RRBs for each procurement period shown on page 4 of the RFP been adjusted for previous REC purchases?
Yes, the RRBs have been adjusted to account for previous procurement results, the values shown are the residual budgets that are applicable specifically to this procurement.
(Posted 1/18/12)
Are the wind target and PV target equal to 75% and 1.5/3/6%, respectively, of the Maximum REC Targets for each term shown on page 3 of the RFP?
The legislated technology targets will be applied to the entire REC quantity for a given year, and will therefore be set to 75% and 1.5/3/6% of the total quantity procured through the 2010 long-term procurement and the current 2012 Rate Stability procurement. The technology percentages to be procured through the Rate Stability procurement have been adjusted based on the types of RECs procured through the 2010 long-term procurement.
(Posted 1/18/12)
What procedure will be used to retire RECs accepted in the procurement?
In GATS, RECs are to be transferred to a RECs Reserve Sub-Account, and note a Reservation Reason of "For transfer to AMEREN", and use "EXPT" for the Reason Code. In MRETS, RECs are to be moved to a REC Retirement Sub-Account and not a Retirement Reason of "For transfer to AMEREN", and use "OTH" for the Retirement Type.
(Posted 1/13/12)
Does Ameren Illinois Company hold accounts with the REC tracking systems (M-RETS, PJM Gats, etc.)? Will winning bidders transfer generated to RECs to the Utilities or retire them in the Utilities' name?
Ameren Illinois Company does not hold accounts with the REC tracking systems. Suppliers will retire RECs on behalf of Ameren Illinois Company. Suppliers will bear any costs associated with retiring the RECs.
(Posted 1/13/12)
Does each procurement period represent a fixed price over a 20-yr contract? Or are the only long-term contracts those referenced in the long-term procurement (the bundled contracts)?
No long-term contracts are included in the 2012 Rate Stability RECs procurement. The quantity indicated for each term is specific to that 12- or 7-month period, with each period bid as a separate product.
(Posted 1/12/12)
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