FAQs
Applications
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FAQ-8:
Please define the term "representative agent" used in Section 1.4 of the Part 1 Form.
A representative agent is a business or individual with an address in Ohio that is authorized and agrees to receive service of process on behalf of the bidder.
03/30/2015 in Applications
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FAQ-7:
Is the Representative referenced in the following question in Section 1.4 of the Part 1 Form ("Is the Applicant’s Representative also the Applicant’s legal counsel or a representative agent?") the same as the Representative designated in Section 1.3?
Yes. The first question in Section 1.4 of the Part 1 Application is asking whether the Representative designated in Section 1.3 of the Part 1 Application will also serve as the Applicant's legal counsel or representative agent for purposes of Section 1.4 of the Part 1 Application.
03/30/2015 in Applications
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FAQ-6:
The Part 1 Application requires an Applicant relying on the financial standing of a Foreign Guarantor to certify that, if they become an SSO Supplier, they will supply AEP Ohio with “the sworn certificate of the corporate secretary (or similar officer) of such Guarantor that [. . .] the governing board of such Guarantor has approved the execution of the Total Exposure Amount Guaranty and the Independent Credit Threshold Guaranty.” If an Applicant cannot include the foregoing language in its certification due to the fact that the governing board of the Guarantor does not formally approve execution of guarantees because this duty is delegated to various committees/individuals, would AEP Ohio waive the requirement to make this certification?
The requirement for a bidder to represent that approval of a guaranty has come from the governing board of the Guarantor or the board’s approved designee cannot be waived. If the Applicant becomes an SSO Supplier, AEP Ohio will require the SSO Supplier in such circumstances to supply the sworn certificate(s) of the corporate secretary (or similar officer(s)) of the Guarantor that the specific committee or individual, with delegated authority from the governing board of the Guarantor to approve the execution of guarantees on behalf of the Guarantor without the need for further Guarantor board approval or action, has in fact approved the execution of the Total Exposure Amount Guaranty and the Independent Credit Threshold Guaranty on behalf of the Guarantor, consistent with, and authorized by its delegated authority from the Guarantor.
As a practical matter, the submission of this question does not constitute notice to the Auction Manager or AEP Ohio of your particular circumstances. In the Foreign Guarantor Certification Insert (#P1-G), please indicate in the space reserved for this purpose that you are unable to make one or more of the required certifications and state all reasons.
03/30/2015 in Applications
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FAQ-4:
What documentation is sufficient to establish that the Applicant currently is a PJM member in good standing and qualified by PJM as a Market Buyer and Market Seller pursuant to PJM Agreements and qualified as a PJM Load Serving Entity?
Section 1.5 of the online Part 1 Form asks whether the Applicant is currently a PJM member in good standing and whether the Applicant is qualified by PJM as a “Market Buyer” and “Market Seller” pursuant to PJM Agreements and qualified as a PJM “Load Serving Entity.” Applicants answering “yes” to these questions are required to provide documentation from PJM to establish that the Applicant is qualified by PJM as a Market Buyer and Market Seller pursuant to PJM Agreements and is qualified as a PJM Load Serving Entity. For this purpose, you may provide (i) a copy of the signature page of the PJM Reliability Assurance Agreement; and (ii) a copy of the signature page of the PJM Operating Agreement, Schedule 4 – Standard Form of Agreement to become a Member of the LLC.Alternatively, you may provide a communication, such as an email, from PJM demonstrating that the Applicant is currently qualified by PJM as a Market Buyer and Market Seller pursuant to PJM Agreements and qualified as a PJM Load Serving Entity.
To support evidence from PJM, the bidder may also need to provide evidence of corporate name changes or other corporate reorganizations, as applicable.
03/27/2015 in Applications
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FAQ-2:
If we post a pre-bid letter of credit in the amount of $2M, is this amount sufficient to bid on up to 4 tranches (4 tranches x $500K = $2M) in both the first and second auction? Or do we have to post a pre-bid letter of credit in the amount of $4M (2 auctions x 4 tranches x $500K)?
If a bidder provides a pre-bid letter of credit in an amount of $2M, this amount will be sufficient for the bidder to bid up to 4 tranches in the first auction beginning on April 28 (4x$500K = $2M) and sufficient for the bidder to bid up to 4 tranches in the second auction beginning on May 12. The details of the pre-bid security that a bidder is required submit are included in the Part 1 Notification to the bidder.
03/27/2015 in Applications
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