The Illinois Power Agency (IPA) issued the Fall 2024 Block Energy and Capacity RFP for the procurement of energy and capacity products for three Illinois utilities. The procurement includes monthly on-peak and off-peak standard block forward products and combinations for Ameren Illinois Company (AIC) and Commonwealth Edison Company (ComEd). Additionally, seasonal Zonal Resource Credit (ZRC) capacity products are procured for AIC for periods starting June 1, 2025 and June 1, 2026. The energy delivery period spans June 1, 2024 to May 31, 2027.
Key dates for the Fall 2024 BEC RFP include: bidder information webcast on July 25, 2024; Part 1 proposals due August 13, 2024; bid assurance collateral due August 13, 2024; Part 2 proposals due September 4, 2024; and ICC decision on September 12 and September 19, 2024. A Bid Participation Fee of $500 is required, though bidders who participated in the Spring 2024 BEC RFP are exempt from paying again.
Bidders must be members of PJM in good standing (Affiliate Member or Voting Member) and/or Certified Market Participants in MISO as of the Part 1 Window opening. Financial requirements include submission of credit ratings from S&P Global Ratings, Moody's Investors Service, and Fitch Ratings, along with audited annual financial information, quarterly financial data, and recent public financial disclosures. Bidders may rely on their own financial standing or that of a guarantor.
Collateral requirements are based on mark-to-market methodology with a minimum transfer amount of $100,000. Performance assurance may be posted as cash or letters of credit. Standard forms of guaranties and letters of credit are provided in the RFP documents. The procurement process includes detailed bid forms, confirmation agreements for AIC and ComEd energy products, and capacity agreements for AIC. All procurement documents including RFP Rules, bid forms, confirmation agreements, and collateral requirements are available on the IPA procurement website.