Sale of Solar Renewable Energy Certificates (SRECs)

FAQ Archives - May 2013 Auction

The FAQs on this page are no longer relevant, as they are from past auctions. These FAQs are posted here only for reference purposes. Do not rely on the information provided on this page for the current auction.

FAQ-13:
Where can I find information on where to send bid assurance collateral for the May 2013 SREC Auction?

Information on where to send bid assurance collateral for the May 2013 SREC Auction is on the third page of the SREC Auction Qualification Instructions, under the heading "Instructions for Submission of Bid Assurance Collateral", subheading "Where do I submit my bid assurance collateral?".

Qualification Instructions are sent via email to returning bidders at the start of the Qualification Window, and to new bidders that submit a Qualification Registration before the Qualification deadline. The Qualification deadline for the current Auction has passed.

05/01/2013 in Qualification
FAQ-12:
Is there a mock/training session for the upcoming auction?

No training session is offered for this Auction. However, the Auction Manager will make available to bidders a software manual.

The Auction Manager makes available an Auction Software Manual that describes in detail the bidding process. Furthermore, bidders will have the opportunity to ask questions of technical assistants at any point during the Auction as well as during a 30-minute login phase prior to the Auction.

04/26/2013 in Bidding Procedures
FAQ-11:
Please describe the bidding process for a one-product SREC Auction.

A one-product SREC Auction proceeds in rounds as follows. In the first round, the Auction Manager proposes a price per SREC, called the “starting price”. Bidders bid by stating the number of blocks that they want to purchase at the starting price. If there are more blocks bid than there are available, the Auction goes to a second round. In the second round, the Auction Manager proposes a new, higher price per SREC. Bidders again bid the number of blocks that they want to purchase at the price of the second round. If there are still more blocks bid than there are available to be sold, the Auction proceeds to the next round. The price in the next round will rise again, and bidders will continue to bid, until a price is reached at which the number of blocks of SRECs bid is just equal to the number of blocks of SRECs to be sold. A bidder wins by having a bid on one or more of the available blocks in the last round of the Auction.

All bidding is conducted through proprietary online Auction Software.

Please refer to Article III of the SREC Auction Manual, "Bidding Rules for a One-Product Auction" for more details on bidding rules. The SREC Auction manual can be found on the SREC Auction web site in the "Bidder Information" menu, "Documents" submenu.

04/26/2013 in Bidding Procedures
FAQ-10:
I have scheduled our bid assurance collateral to be sent next week. Am I able to click on the “I have initiated the wire transfer” button on the qualification form even if you will not receive the bid assurance collateral for another week?

Yes. The box next to "I have initiated the wire transfer for posting of bid assurance collateral" on the qualification form can be checked once a bidder initiates the process of sending in their bid assurance collateral via wire transfer. Please note, however, that a bidder’s qualification materials can only be complete once the Auction Manager actually receives the bid assurance collateral (and not when the process of sending the bid assurance collateral is initiated by the bidder).

04/19/2013 in Qualification
FAQ-9:
Where can I obtain information about PJM EIS GATS?

You may obtain information about PJM EIS GATS by contacting the GATS Administrator through the following web form:

http://www.pjm-eis.com/getting-started/contact-us.aspx

or by phone, email or fax:

Hotline: 610-666-2245

Toll Free Number: 1-877-750-GATS

Email: gatsadmin@pjm-eis.com

Fax: 610-771-4114

04/17/2013 in General
FAQ-8:
Is NERA the Auction Manager for any solicitations in which we could sell our SRECs currently? If so, is there a central place for a company to register for all such Auctions?

NERA is not currently the administrator of any such solicitations. Registration for such solicitations is on a case-by-case basis and there is no centralized form to apply to all such events. For more information, please contact us.

04/17/2013 in General
FAQ-7:
What information does the Auction Manager post regarding the past auction results? Does the Auction Manager post any additional data?

All results of previous Auctions are posted on the “Previous Results” page under the “Background” tab of our web site.

The Auction Manager sends Auction results by email to web site registrants. To register to our web site, please go to the “Register” page under the “Contact Us” tab of our web site. Auction results are usually posted one business day after the Auction concludes.

The Auction Manager does not post any other data for the NJ SREC Auction.

04/17/2013 in General
FAQ-6:
Is it possible to participate in the NJ SREC Auction as a seller?

No. The four New Jersey Electric Distribution Companies (EDCs) - Public Service Gas & Electric Company (PSE&G), Atlantic City Electric Company (ACE), Jersey Central Power & Light Company (JCP&L), and Rockland Electric Company (RECO) - hold Auctions to sell SRECs from their solar programs. Participants in these Auctions purchase (rather than sell) SRECs.

04/17/2013 in General
FAQ-5:
When are the next SREC Auctions tentatively scheduled?

The date of the next SREC Auction is May 9, 2013. The dates of the next Auctions are tentatively set to July 15 and September 17, 2013; these dates are subject to change.

04/17/2013 in General
FAQ-4:
When is the Qualification Deadline for the May 2013 SREC Auction, and what materials must be submitted by this deadline?

The Qualification Deadline for the May 2013 SREC Auction is Tuesday, April 30, 2013 at 12pm noon. The information requested in the online qualification form, an uploaded representation form, and bid assurance collateral are due by the Qualification Deadline. Master SREC Agreement Signature pages are also due in hardcopy by the Qualification Deadline if the bidder has not participated in an SREC Auction occurring April 2011 or later.

04/17/2013 in General
FAQ-3:
Where can I find results of previous Auctions, and when can I expect the results of the current Auction (May 2013) to be announced?

All results of previous Auctions are posted on the “Previous Results” page under the “Background” tab of our web site.

The Auction Manager sends auction results by email to web site registrants. To register to our web site, please go to the “Register” page under the “Contact Us” tab of our web site.

Auction results are usually posted one business day after the Auction concludes.

04/17/2013 in General
FAQ-2:
Are SRECs created in GATS as generation in states other than New Jersey available for purchase in the Auction?

No. The four New Jersey Electric Distribution Companies (EDCs) - Public Service Gas & Electric Company (PSE&G), Atlantic City Electric Company (ACE), Jersey Central Power & Light Company (JCP&L), and Rockland Electric Company (RECO) - hold Auctions to sell SRECs from their solar programs. Thus, all SRECs available in the NJ SREC Auction are created in GATS as generation from New Jersey.

04/17/2013 in General
FAQ-1:
I noticed that the total number of 2013 SRECs sold (57,287) in your emailed announcement of the March 2013 Auction results does not match the "SRECs Sold" number (57,285) posted on your web site's "Previous Results" page for the same vintage and Auction. Please clarify why these numbers are different.

Two (2) 2013 SRECs of the 57,287 total were sold as part of one (1) 2012 SREC product Block. This Blended Block consisted of forty-three (43) 2012 SRECs and the two (2) 2013 SRECs. Thus, 57,287 2013 SRECs were sold in total: 57,285 2013 SRECs as part of blocks of the 2013 product at a price of $112.01 and 2 SRECs as part of a blended block included with the 2012 product at a price of $110.15.

04/10/2013 in General