FAQ Archives - ESP IV - November 2017 Auction
The FAQs on this page are no longer relevant. These FAQs are posted here only for reference purposes. Do not rely on the information provided on this page.
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FAQ-168:
The Department of Energy proposed the Grid Resiliency Price Rule on September 28, 2017. Will SSO Suppliers be responsible for potential costs resulting from this rule as finalized under Docket # RM18-1?
It is every bidder’s responsibility to assess potential costs and obligations associated with the Supply Master SSO Agreement. FERC has solicited comments on the proposed rule and this matter is still pending.
11/17/2017 in Other/General
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FAQ-165:
Can you please confirm that, if we intend to submit a Letter of Credit for the full amount of the pre-bid security required, we should be submitting a Letter of Credit in an amount of $800,000 per tranche ($500,000 in minimum pre-bid security plus $300,000 in additional pre-bid security)?
Confirmed. Please see FAQ-161.
11/08/2017 in Credit , Applications
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FAQ-164:
It is possible that our bank will be overnighting the pre-bid letter of credit the day that Part 2 Applications are due. Is there any issue with this timing?
The Part 2 Application must be received by the Auction Manager no later than 12PM (noon) EPT on November 8, 2017. Upon receiving your Part 2 Application materials, the Auction Manager sends a notice either stating that the Part 2 Application is complete and is being considered, or stating that the Part 2 Application is deficient. If a Qualified Bidder receives a first deficiency notice from the Auction Manager regarding pre-bid security (the pre-bid letter of credit, cash, the letter of intent to provide a guaranty, or the letter of reference), the Qualified Bidder has until 12 PM (noon) on the Part 2 Date, or until 6 PM on the second day following the business day during which such deficiency notice is sent to the Qualified Bidder, whichever comes later, to respond.If your online Part 2 Form and supporting materials are submitted on the Part 2 Date, but your pre-bid security in the form of cash or pre-bid letter of credit has not been received by the Part 2 Date, you will receive a deficiency notice requiring you to provide the pre-bid security by 6PM EPT on the second day following the business day during which such deficiency notice is sent. For example, a deficiency notice sent on November 8, 2017 will require corrections to be made, or materials to be received, by 6PM EPT on November 10, 2017.
11/08/2017 in Credit , Applications