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FAQ-129:
Are there any fees for participating in the Auction?
There are no broker fees imposed by the EDCs 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.
05/16/2012 in
General
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FAQ-128:
Can you explain how $10,000 in collateral provides full eligibility for both products?
A bidder who submits $10,000 will receive initial eligibility sufficient to bid on all available blocks. The system for determining initial eligibility for bidders who submit less than $10,000 in Bid Assurance Collateral is described below. A bidder has two initial eligibilities at the start of the Auction, one for each of the two products (2011 SRECs and 2012 SRECs). A bidder’s initial eligibility for a product is the maximum number of blocks that a bidder can bid for that product in round 1 of the Auction. Because a bidder can never increase the number of blocks of a product that a bidder bids during the Auction, a bidder’s initial eligibility for a product is also the maximum number of blocks that a bidder can bid for that product during the entire Auction.
A bidder’s bid assurance collateral determines the bidder’s initial eligibilities. The initial eligibility of
a bidder for a product is the amount of bid assurance collateral divided by the block size for that
product (with the caveat that the initial eligibility for a product cannot exceed the number of blocks
available for that product).
There will be 1 block of 2011 SRECs (containing 61 SRECs) and 761 blocks of 2012 SRECs (each containing 43 SRECs) available in the May 2012 Auction. On the basis of these figures:
• A bidder’s initial eligibility for 2011 SRECs will be its bid assurance collateral divided by 61, up to a maximum of 1 block; and
• A bidder’s initial eligibility for 2012 SRECs will be its bid assurance collateral divided by 43, up to a maximum of 761 blocks.
05/16/2012 in
Qualification
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FAQ-127:
How much bid collateral is required, and by when does it need to be submitted?
If your Qualification Forms are complete and compliant with the requirements, you will receive a Notification of Qualification to Proceed on Tuesday, May 8. The Notification will contain an attachment titled "Bid Assurance Collateral Submission Instructions", which will provide the information you will need in order to submit your collateral. Each bidder must provide, in cash, bid assurance collateral of $1/SREC for the maximum that the bidder intends to bid in round 1 of the Auction. Bid Assurance collateral and signed Master SREC Agreements are both due on Tuesday, May 15.
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 Tuesday, May 15th for the transfer to clear.
05/16/2012 in
Qualification
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FAQ-126:
Q: What is the range of SRECs that will be available in the May 2012 Auction?
A: The upcoming Auction features Solar Renewable Energy Certificates (“SRECs”) of two different vintages. There will be between 50 and 175 SRECs created in GATS as generation between July 1, 2010 and May 31, 2011. Additionally, there will be between 20,000 and 33,000 SRECs created in GATS as generation between June 1, 2011 and March 31, 2012.
Please see our announcement posted
here. The Auction Manager will announce the precise number of SRECs available shortly before the Auction.
04/25/2012 in
General
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FAQ-125:
Q: 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?
A: 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 May 7, 2012 in order to participate in the May 2012 SREC Auction. While some of the information you provide may remain the same, the representative of each bidder must make certain certifications that apply specifically to the upcoming Auction.
Once qualified, if a prospective bidder has submitted the Master SREC Agreement in a previous Auction occurring April 2011 or later, and if the signatory remains valid, the bidder is not required to submit the Master SREC Agreements again.
04/25/2012 in
Qualification
