Announcements
Indexed REC RFP – ANNOUNCEMENT: Supplier Fee; Guidelines on Contract Execution Process
A Project selected through the Indexed REC RFP and approved by the Illinois Commerce Commission will be assessed a Supplier Fee that will be due within seven (7) business days after ICC approval of the Bids. The Supplier Fee is $0.25 times the Annual Quantity of RECs bid for a Project (which is equivalent to about $0.0125 per REC assessed on the anticipated quantity of RECs over the entire 20-year delivery term).
For illustrative purposes, we provide below an example of the calculation of the Supplier Fees that will be due to the Illinois Power Agency. If a Project is selected through the Indexed REC RFP and is approved by the ICC, and if the annual quantity won for the Project is 100,000 RECs, then the Supplier Fees due would be $25,000, which is calculated as follows:
|
Supplier Fee per REC |
= $0.25 per REC of the annual quantity |
|
Annual Quantity |
= 100,000 RECs |
|
Supplier Fee for Project |
= Supplier Fee x annual quantity |
|
|
= $0.25 x 100,000 RECs = $25,000 |
The post-bid process is discussed in Section VI.2 of the RFP Rules, and the contract execution process for each Company is fully described in Paragraph VI.2.20 of the RFP Rules.