FAQ Archives - October 2019 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-220:
Can you please provide the composition of the Additional Block of pre-2019 SRECs available for the October 2019 Auction and how bidding will be conducted for this block?
There will be a single block of SRECs on which bidders may bid at the conclusion of the Auction. This single block will contain a total of 120 SRECs: 1 SREC is from EY2016, 58 SRECs from EY2017, and 61 SRECs from EY2018. A bidder submits a bid to purchase the entire block of 120 SRECs; no bids may be submitted for a single vintage or for a portion of this additional block. It is expected that this additional block will be awarded to the highest bidder. However, the Auction Manager and the EDCs reserve the right to reject all bids.
10/16/2019 in Bidding Procedures
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FAQ-219:
If we win blocks in the Auction, when will we receive the Transaction Confirmation and when will the payment to the EDC(s) be due?
Each EDC will prepare the Transaction Confirmation for each of its winning bidders. No later than two (2) business days after the close of the Auction, an EDC will partially execute each Confirmation and will send one (1) copy by fax or other electronic means to each of its winning bidders. Each EDC will also send two (2) partially executed originals of the Confirmation to each of its winning bidders by overnight delivery service.By 2 PM on the third business day after the close of the Auction, each winning bidder will execute the Confirmation received from one or more EDCs and will send a copy by fax or other electronic means to each such EDC. Each winning bidder will also send to each such EDC one (1) original Confirmation by overnight delivery service. Within five (5) business days after the close of the Auction, each of the winning bidders of an EDC will pre-pay that EDC for all SRECs purchased from that EDC at the final Auction price(s). This date is called the “Payment Date”. Within three (3) business days of the Payment Date, each EDC delivers the SRECs to each of its winning bidders’ PJM-GATS accounts.
10/16/2019 in General
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FAQ-218:
If a bidder wins the additional block of pre-2019 vintage SRECs, will the older vintages be listed in the Transaction Confirmation of the Master SREC Agreement?
Yes. A bidder that wins the additional block of Pre-2019 vintage SRECs will see the older vintage SRECs listed in the Transaction Confirmation of the Master SREC Agreement.
09/16/2019 in Contract