Sale of Solar Renewable Energy Certificates (SRECs)

FAQ Archives - July 2010 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-28:
Has the Master SREC Agreement for the July 2010 Auction changed from the Master SREC Agreement for the January 2010 Auction?

The Master SREC Agreement has not changed since the January 2010 Auction.

07/10/2010 in General
FAQ-27:
When should we post our Bid Assurance Collateral?

Bid Assurance Collateral is considered received when the funds are available to us, which is not necessarily the exact time at which you initiate the transfer. Please be sure you allow enough time before the deadline of noon on July 15th for the transfer to clear.

07/10/2010 in Qualification
FAQ-26:
How much Bid Assurance Collateral is required to bid on all available Blocks in the July 2010 Auction?

A bidder that provides bid assurance collateral of $5,750 will have an initial eligibility of 115 blocks, which is the maximum.

07/10/2010 in Qualification
FAQ-25:
Where can I find the final number of SRECs available in the July 2010 Auction?

There are 115 Blocks available for the July 2010 Auction. Each Block has 50 SRECs. You can also find this information in the Notification of Qualification to Proceed that was sent to your Representative on July 1, 2010 and delivered in hard copy on July 2, 2010.

07/10/2010 in General
FAQ-24:
What is the required amount of Bid Assurance Collateral in the July 2010 Auction?

The bid assurance collateral required in the July 2010 Auction is $50 per block of $50 SRECs (or $1/SREC). The amount has decreased from the January 2010 Auction.

07/10/2010 in Qualification
FAQ-23:
To which address do we mail our Qualification Forms and how many are required?

Two (2) original completed Qualification Forms with original signatures must be sent to the following address:

NERA - SREC Auction Manager
One Gateway Center, Suite 720
Newark, NJ 07102
Telephone: 973-297-0880

07/10/2010 in Bidding Procedures
FAQ-22:
My company qualified to bid in a previous SREC Auction. Do we still have to submit a Qualification Form for this auction? Is there an abbreviated qualification process?

All prospective bidders, whether or not they have qualified for a previous SREC Auction, must complete and provide two (2) signed originals of the Qualification Form by noon EPT on June 29, 2010 in order to participate in the July 2010 SREC Auction.

Once qualified, a prospective bidder that has won SRECs in a previous Auction will not have to re-submit the Master SREC Agreement.

06/11/2010 in Qualification
FAQ-21:
When were the SRECs in the July 2010 Auction generated?

All SRECs in the July 2010 Auction have been generated in the state of New Jersey on or after June 1, 2009, and on or before May 31, 2010.

06/11/2010 in General
FAQ-20:
In what state were the SRECs available at this auction generated?

All SRECs in the July 2010 Auction have been generated in the state of New Jersey on or after June 1, 2009, and on or before May 31, 2010.

06/11/2010 in General
FAQ-19:
What, if any, broker and/or transaction fees will a winning bidder in the SREC Auction be responsible for?

There are no broker fees imposed by PSE&G or the Auction Manager on participants in the SREC auction. Buyers are responsible for any charges imposed by PJM-GATS related to buyers' own accounts.

01/28/2010 in General , Contract
FAQ-16:
When will SRECs be delivered to the winning bidder's GATS account?

Under the terms of the Master SREC Agreement, the SRECs are delivered no later than two business days after PSE&G receives pre-payment, which occurs within five business days of the close of the Auction. Please see the definitions of Delivery Date, Trade Date, and Payment Date in the Master SREC Agreement. Please also see Article V of the Bidder Manual for a detailed timeline of post-Auction procedures.

01/27/2010 in Contract
FAQ-15:
How many blocks will be available during the July 2010 auction? Is there a "cap" on how many blocks any one participant can bid on?

There are 115 blocks available for the July 2010 Auction. Each Block has 50 SRECs. There is no "cap" or maximum on the number of blocks that a participant may bid and win in the Auction.

01/27/2010 in General
FAQ-9:
Is the Release of Bidder Information Form required?

The Release of Bidder Information Form is optional. If a bidder does not complete and deliver the form to the Auction Manager, no information about its participation in the SREC auction will be released.

12/17/2009 in General
FAQ-2:
What happens if at the round 1 price there are fewer blocks bid than are available?

If there are fewer blocks bid in round 1 than there are available, the auction ends in round 1. The bidders that submitted a bid in round 1 win the number of SRECs bid at the starting price (the going price in round 1). The SRECs that are unsold in the auction will be distributed across remaining auction(s) in a Reporting Year at the discretion of the Auction Manager, depending upon factors such as the total unsold SRECs and the level of interest in the auction(s).

09/28/2009 in Bidding Procedures
FAQ-1:
What information will be made public after the Auction?

The SREC Auction will be conducted in accordance with the Board Order and Stipulation in the proceeding. The Board Order of November 7, 2008 states that: "After each auction, the web site will also post information about the price and quantity of SRECs sold at that auction. Additional information, for example regarding the amount purchased by specific bidders, would also be released upon receiving consent from the bidders."

We will post shortly to our web site a consent form that a bidder can use to authorize the Auction Manager to release additional information, including 1) the fact that the bidder participated in the Auction; 2) the fact that a bidder is a winning bidder at the Auction; and 3) the number of SRECs won by a winning bidder.

09/28/2009 in General