The Illinois Power Agency (IPA) conducted a Spring 2014 Standard Products Request for Proposals (RFP) for the procurement of electric energy supply to serve residential and non-residential retail customers of Ameren Illinois Company (AIC) and Commonwealth Edison Company (ComEd) for the period June 1, 2014 through May 31, 2015.
The procurement targeted monthly on-peak and off-peak standard block forward products as well as combinations. Bidders were required to submit two-part proposals: Part 1 containing financial information and qualifications, due April 8, 2014 at 12:00 PM Central Prevailing Time; and Part 2 containing bids and credit documents, due April 22, 2014. The RFP utilized a competitive bidding process managed by a Procurement Administrator, with bids evaluated against confidential benchmarks established by the Procurement Administrator, IPA, Procurement Monitor, and Illinois Commerce Commission (ICC) staff.
Key requirements included submission of financial attestations, pre-bid letters of credit ($5,000 per block), officer certificates for agency agreements, and confidentiality statements. Bidders could rely on their own financial standing or on that of a guarantor (domestic or foreign). For ComEd, bidders were required to schedule energy delivery through PJM's Day-Ahead Market to the ComEd Zone. For Ameren, delivery was to MISO CP Node AMIL.BGS6.
The evaluation process included two steps: elimination of bids failing to meet benchmarks, followed by selection of a bid package achieving the lowest average cost per MWh while procuring all required blocks. Results were submitted to the ICC by May 2, 2014, with the ICC issuing its decision within two business days. Winning bidders were required to execute Energy Master Agreements and provide performance assurance through cash, letters of credit, or guaranties within two business days of ICC approval.