On December 7, 2018, the Program Administrator posted to the www.illinoisshines.com website a draft of the Adjustable Block Program REC Contract (the “DRAFT REC Contract”). The DRAFT REC Contract is proposed to be the standard contract form for the Adjustable Block Program between each Approved Vendor and Ameren Illinois Company (“AIC”), Commonwealth Edison Company (“ComEd”) or MidAmerican Energy Company (“MEC”). Except as otherwise expressly set forth in the Draft REC Contract, the Draft REC Contract is governed by all the terms and conditions of the form of the agreement entitled “Master Renewable Energy Certificate Purchase and Sale Agreement,” which is attached thereto.
The Program Administrator invites interested parties to submit their comments on the DRAFT REC Contract. All comments received in accordance with the process outlined below will be reviewed by representatives from the IPA, the Program Administrator, AIC, ComEd, MEC, Staff of the ICC and NERA Economic Consulting. The timeline and process for interested parties to provide comments is as follows:
- Please submit your comments on the DRAFT REC Contract by email to the Program Administrator at: [email protected]
- Please provide telephone and email contact information in the event that the Program Administrator seeks clarification regarding your comments.
- Each of your comments must be clearly indicated with tracked changes in Microsoft Word. We strongly encourage you to provide explanatory notes either in a separate document or highlighted in tracked changes.
The deadline to provide comments is 12 PM (Noon) Central Prevailing Time (“CPT”) on Wednesday, December 19, 2018.
Written comments submitted to the Program Administrator according to the process above and submitted prior to the deadline will be posted to the illinoisshines.com website and made publicly available. The Program Administrator will redact the name of the submitter but will not attempt to redact any information that may otherwise identify the submitter.
Please direct all questions to the Program Administrator at: [email protected]
Explanatory Notes
To facilitate the review of the Draft REC Contract by interested parties, we provide the following notes:
(a) The REC Contract contains eight exhibits as follows:
• Exhibit A – Form of Product Order
• Exhibit B – Bi-Annual System Status Form
• Exhibit C – Community Solar Quarterly Report
• Exhibit D – REC Annual Report
• Exhibit E – Form of Letters of Credit
• Exhibit F – Delivery Schedule Example
• Exhibit G – Surplus RECs and Drawdown Payments Example
• Exhibit H – Master REC Purchase and Sale Agreement (“Master REC Agreement”)
(b) The REC Contract constitutes the “Cover Sheet,” and modifies the terms of the Master REC Agreement (Exhibit H). The exhibits and the guidance notes appended to the end of the Master REC Agreement shall not apply; and the only exhibits that are applicable are those indicated in (a) above.
(c) Capitalized terms used in the REC Contract are provided in pages 11-18 of the Cover Sheet. Capitalized terms used and not otherwise defined in the Cover Sheet or modified by the Cover Sheet shall have the same meaning as in the Master REC Agreement.
(d) The REC Contract may include multiple Transactions. One batch of systems submitted by Seller and approved by the ICC corresponds to one Transaction, and the key terms of such Transaction (such as pricing and size of the Designated Systems within the batch) are specified in the Product Order applicable to such Transaction.
(e) The form of the Product Order is provided in Exhibit A, and each Product Order contains two (2) schedules, Schedule A and Schedule B. Schedule A to a Product Order shall include summary information of each Designated System proposed by Seller under the ABP for which batch has been approved by the ICC for inclusion in the REC Contract. Once a Designated System is Energized, the IPA or its designee shall prepare and complete Schedule B to the Product Order for such Designated System, which includes updated summary information related to the Designated System, and which shall be the basis for determining applicable payments under the REC Contract.
