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Frequently Asked Questions - Topics - Application

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Answers to Frequently Asked Questions are provided in this section. 

The first posting of FAQs is in August.  The last posting of FAQs is in the latter part of January, after bidders are registered to participate in the Auctions.   From that point, questions and answers are emailed directly to Registered Bidders and are not posted to the BGS Auction website.  Questions that are not from Registered Bidders or their advisors are answered strictly on a best efforts basis.

Your use of this page (site) constitutes an acceptance of the Terms as described in the disclaimer.

 
Application (19)
Association and Confidential Information Rules (52)
Auction Rules (2)
Credit (4)
Data (13)
General (17)
Pre-Auction Security (10)
Rates (1)
Renewable Portfolio Standards (9)
Supplier Master Agreement  (9)
Transmission (6)

Application

FAQ-123

What are the submission instructions for providing a bid bond as pre-auction security?


The Bid Bond must be submitted as an electronic PDF file... Read Answer

1/14/2021.


FAQ-122

Which email address should we use in Paragraph 12 of the Pre-Auction Letters of Credit?


The BGS Auction Manager’s email,... Read Answer

1/11/2021.


FAQ-121

Is there an alternative to posting a Pre-Auction letter of Credit?


Each Qualified Bidder must provide a Pre-Auction Letter of... Read Answer

1/7/2021.


FAQ-120

Can we add a paragraph 15 to the Pre-Auction Letter of Credit that would read as follows:

"15. THIS LETTER OF CREDIT MAY BE SIGNED BY THE ISSUING BANK WITH EITHER A DIGITAL OR ORIGINAL SIGNATURE, EITHER OF WHICH SHALL BE LEGALLY-VALID AND ENFORCEABLE. THE ISSUING BANK MAY TRANSMIT THIS LETTER OF CREDIT TO THE BENEFICIARY BY MAIL, FAX OR ELECTRONIC TRANSMISSION. FOR THE AVOIDANCE OF DOUBT, ANY ELECTRONIC PDF VERSION OF THIS LETTER OF CREDIT RECEIVED BY THE BENEFICIARY SHALL BE AN OPERATIVE INSTRUMENT AND MAY BE USED BY THE BENEFICIARY AS IT WOULD A HARDCOPY ORIGINAL."


The proposed paragraph states that the bank may transmit a... Read Answer

1/7/2021.


FAQ-119

Would it be acceptable for our bank to clarify in the first sentence of Paragraph 6 that a copy of the Pre-Auction Letter of Credit will NOT be returned to the bank upon cancellation?


Yes, it is acceptable for Paragraph 6 to read “This... Read Answer

1/7/2021.


FAQ-115

Is cash an acceptable form of pre-auction security?


Cash is not acceptable as pre-auction security.   Read Answer

12/30/2020.


FAQ-111

Would it be acceptable for our bank to add the below address for informational purposes only, in place of and similar to the EDC addresses provided in acceptable modification B.6 in the List of Acceptable Modification posted to the BGS Auction website?

To: the Electric Distribution Companies (“EDCs”)

c/o NERA Economic Consulting (“NERA”)

BGS Auction Manager

One Gateway Center, Suite 720

Newark, NJ 07102

THIS ADDRESS FOR INFORMATIONAL PURPOSES ONLY

NOT A DELIVERY ADDRESS – Letter of Credit delivered electronically only to NERA


This is acceptable.  The intent of acceptable... Read Answer

12/24/2020.


FAQ-110

For Qualified Bidders that submit a Letter of Intent to Provide a Guaranty, must the statement from the Guarantor be completed using a digital signature or are there alternate acceptable methods?


The Letter of Intent to Provide a Guaranty includes two... Read Answer

12/24/2020.


FAQ-106

If we are electing to use digital signatures on our Inserts, what should we provide as “an additional document or information that can be used by the BGS Auction Manager to verify the identity of the signatory”?


Applicants that elect to complete an Insert with a digital... Read Answer

12/14/2020.


FAQ-105

Is information provided in the bidder’s application and bidder-specific activity during the Auction under confidentiality provisions in the BGS Auctions?


The BGS Auctions are held under a process proposed by the... Read Answer

12/14/2020.


FAQ-104

Can we submit the Part 2 Inserts during the Part 1 Window for early processing?


There is no option for early processing of the Part 2... Read Answer

12/14/2020.


FAQ-103

At what point in the qualification and auction process do bidders that are part of a bidding agreement need to elect which entity will execute the contract?


If Joint Bidder wins at the auction, it may be the case... Read Answer

12/9/2020.


FAQ-102

Is there a point after which a bidder is required to submit a bid in the auctions for which it has registered? 


At no point in the auction process does a bidder become... Read Answer

12/9/2020.


FAQ-101

Can a parent corporation qualify two of its entities in the Part 1 Application process?  How would these entities proceed through the application process if only one of the two entities is expected to sign the Supplier Master Agreement (but it is not known at this time which entity would be selected)?


If a parent corporation puts forward two affiliated... Read Answer

12/9/2020.


FAQ-100

We participated in previous BGS Auctions and want to change the account holder who receives the login credentials to access the online Part 1 Application Form. How can we make that change?


Each year on or before the opening of the online Part 1... Read Answer

12/7/2020.


FAQ-98

If an applicant is not seeking unsecured credit, is the applicant required to submit the financial information requested by the Part 1 Application?


Yes.  It is a requirement of the Part 1 Application... Read Answer

12/7/2020.


FAQ-94

Can we provide an “evergreen” pre-auction letter of credit (we would amend the amount to $1 at the end of the auction and leave the pre-auction letter of credit in place for the next auction)?


No. The BGS Auctions occur annually and the pre-auction... Read Answer

12/7/2020.


FAQ-43

When is the Pre-Auction Letter of Credit due?


The Pre-Auction Letter of Credit is due with the Part 2... Read Answer

11/12/2020.


FAQ-38

How do I express interest to participate in the BGS Auctions?


There is no deadline specifically to submit an Expression... Read Answer

10/29/2020.


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