FAQ-257:
Will the EDCs countersign the Master SREC Agreement prior to the conclusion of the auction?
To participate in the SREC Auction, a bidder must fulfil the basic qualification standards outlined in Article II of the SREC Auction Manual including the submission of the signature pages of the Master SREC Agreements, one for each EDC as the Seller (four (4) signature pages in total), signed by an officer of the bidder or other individual empowered to bind the bidder. If a bidder has submitted these documents in a previous Auction and if the signatory to the Master SREC Agreement remains valid, the bidder is not required to submit the signature pages of the Master SREC Agreement again.
The signature pages of the Master SREC Agreement submitted by a bidder are retained by the Auction Manager until the bidder becomes a winning bidder in the SREC Auction and the bidder is matched with a particular EDC. At the conclusion of the auction, the Auction Manager will notify each EDC of the names of its winning bidders, the number of SRECs it will sell to each winning bidder, the PJM-GATS account number of each of its winning bidders, the amounts due for purchased SRECs from each of its winning bidders, and the final Auction price(s). As part of the post-auction process, the Auction Manager will send to each EDC the partially executed Master SREC Agreement for that EDC and for each of its winning bidders for execution, unless that EDC has already executed a Master SREC Agreement with a particular bidder pursuant to a previous SREC Auction. Each EDC will then execute the Master SREC Agreement for each of its winning bidders that have not already executed a Master SREC agreement pursuant to a previous SREC Auction and send the fully executed Master SREC Agreement to each of said winning bidders. The EDCs will not execute the Master SREC Agreement prior to the completion of the Auction.
