PECO Procurement For Default Supply

FAQs

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FAQ-60:
Where can I read about timing for switching for Default Service customers?

As stated in paragraph I.1.7. of the RFP Rules, “A Default Service customer may choose to begin receiving service from an EGS on the customer’s meter reading date in accordance with the Company’s standard switching requirements as described in the Company’s Electric Generation Supplier Coordination Tariff including, without limitation, prior advance notice to the Company.” The Company’s Electric Generation Supplier Coordination Tariff is available here: https://www.peco.com/my-account/my-dashboard/rates-tariffs/electric-service/current-electric.

12/18/2024 in Contract
FAQ-59:
When will the Independent Evaluator notify RFP Bidders of lowest-priced Bids?

The Independent Evaluator phones each RFP Bidder that has submitted Bids by 3 PM on the Bid Date and identifies the RFP Bidder’s Bids that are provided to the Commission as lowest-priced Bids. The Independent Evaluator also provides a notification to the RFP Bidder by email.

12/16/2024 in Rules
FAQ-58:
Will the Independent Evaluator retain a Pre-Bid Letter of Credit between solicitations if requested by an RFP Bidder?

The Independent Evaluator will retain a Pre-Bid Letter of Credit between solicitations if requested by an RFP Bidder.

12/16/2024 in Credit
FAQ-57:
Can we submit cash or a surety bond instead of posting a Pre-Bid Letter of Credit with the Part 2 Proposal?

No, neither cash nor surety bonds are an acceptable form of pre-bid security. With the Part 2 Proposal, an RFP Bidder must provide an executed Pre-Bid Letter of Credit. An RFP Bidder must either use the Standard Pre-Bid Letter of Credit available on the RFP website, or a Pre-Bid Letter of Credit that incorporates only those modifications to the Standard Pre-Bid Letter of Credit that have been approved by PECO and posted to the RFP website.

12/16/2024 in Rules
FAQ-56:
Can you please provide a physical address for PECO for the purposes of issuing the pre-bid letter of credit?

If a physical address is required strictly for purposes of identifying the Beneficiary, it is acceptable to use PECO’s address below the beneficiary name. Please see the acceptable modification to the header to include PECO’s address in the list of acceptable modifications to the Pre-Bid Letter of Credit posted on the Supplier Documents page. The pre-bid letter of credit must be submitted as an electronic PDF file via electronic means only to the Independent Evaluator. A hardcopy version should not be delivered to this address.

12/16/2024 in Credit
FAQ-55:
We do not have an RFP Guarantor that meets the creditworthiness requirements under the Uniform SMA. Does this mean that we cannot participate in the RFP?

An unrated entity or an entity with a credit rating below BBB- for S&P and/or Fitch or below Baa3 from Moody’s would not be granted any Unsecured Credit and cannot serve as an RFP Guarantor under the terms of the Uniform SMA (see Appendix A). It is not a requirement for an RFP Bidder to be rated or to rely on the financial standing of a Guarantor that meets the creditworthiness requirements in order to participate in the PECO RFP. In this case, the RFP Bidder would not be granted any Unsecured Credit and must post any required performance assurance collateral in the form of cash or a letter of credit.

12/16/2024 in Credit
FAQ-54:
For an RFP Bidder relying on the financial standing of a Foreign Guarantor, when must the additional documents listed under Paragraph V.5.3 of the RFP Rules be submitted?

With the Part 2 Proposal, an RFP Bidder that relies on the financial standing of a Foreign Entity as RFP Guarantor, must provide fully executed versions of the additional documents listed under Paragraph V.5.3 of the RFP Rules for the Foreign Entity as RFP Guarantor to be granted unsecured credit and for the RFP Bidder to rely on the financial standing of the RFP Guarantor under the terms of the Uniform SMA.

With the Part 1 Proposal, the RFP Bidder may, but is not required to, submit a draft of these documents. If an RFP Bidder submits a draft of the documents for evaluation, the Independent Evaluator will provide this evaluation to the RFP Bidder, including notice of any changes required to the documents, along with the Part 1 Notification. Any evaluation communicated to the RFP Bidder of such draft documents is final. The RFP Bidder cannot submit a subsequent request for changes on the basis of this evaluation.

Please see Paragraphs IV.5.3 and V.5.3 of the RFP Rules for additional requirements applicable to RFP Bidders with Foreign Guarantors. The RFP Rules are available on the Supplier Documents page of the RFP website.

12/16/2024 in Rules
FAQ-53:
Is it acceptable to rely on the financial standing of a Foreign Guarantor?

Yes, RFP Bidders may rely on the financial standing of a Foreign Guarantor. Please see Paragraphs IV.5. and V.5. of the RFP Rules for additional requirements applicable to RFP Bidders with Foreign Guarantors. The RFP Rules are available on the Supplier Documents page of the RFP website.

12/16/2024 in Credit
FAQ-52:
Can an RFP Bidder rely on the financial standing of an RFP Guarantor that does not file a SEC Form 10-Q/10-K? If so, what are the requirements?

In order to rely on the financial standing of an RFP Guarantor, discrete financial information must be available for the RFP Guarantor.

An RFP Bidder must submit the RFP Guarantor’s most recent quarterly financial information, including a balance sheet, income statement, cash flow statement, and any accompanying notes and schedules. If the SEC Form 10-Q/10-K is unavailable, the RFP Bidder must submit the RFP Guarantor’s most recent quarterly, monthly, or bi-annual financial information accompanied by an attestation by the entity’s Chief Financial Officer (or similar position) that the information contained in the financial statements fairly presents in all material respects the financial condition and results of the operations of the entity. The requirements for this attestation are provided more specifically in Appendix 5 of the RFP Rules.

12/16/2024 in Rules
FAQ-51:
In Section 4 of the Standard Part 1 Form, an RFP Bidder that has not previously qualified pursuant to a successful Part 1 Proposal is required to provide a copy of the signature page of the Reliability Assurance Agreement (“RAA”). If the signature page is not available, can an RFP Bidder provide the current version of the RAA posted to PJM’s website including Schedule 17, which lists the parties to the RAA, to meet this requirement?

If the RFP Bidder is a signatory to the Reliability Assurance Agreement (“RAA”) and the signature page is unavailable, the RFP Bidder may provide the current version of the RAA posted to PJM’s website including Schedule 17, which lists the parties to the RAA, to meet this requirement. For purposes of completing the Part 1 Proposal, the RFP Bidder must also provide a statement in Section 6 Justification of Omissions of the Part 1 Form explaining the signature page is not available.

12/16/2024 in Rules

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