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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 will be in August.  The last posting of FAQs will be 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.

 
SMA Section 15.9 (5)
Association and Confidential Information Rules (49)
Credit (22)
Application (24)
Supplier Master Agreement  (5)
General (26)
Auction Rules (2)
Rates (5)
Data (10)

Application

FAQ-124

We did not submit a Part 1 Application. Is there a way we can still bid in the BGS Auctions?


No. All parties interested in participating in the BGS... Read Answer

1/4/2018.


FAQ-123

Is the bank that issues the Pre-Auction Letter of Credit required to have a New York address?


No. However, the bank is required to comply with the... Read Answer

1/2/2018.


FAQ-122

Do the signatures on the Letter of Intent to Provide a Guaranty by our Guarantor and by the Bidder on the certification need to be on the same original copy or can the Bidder’s signed portion be delivered to the BGS Auction Manager’s office separately?


The Bidder’s signature of the certification on the... Read Answer

1/2/2018.


FAQ-121

Do the signatures on the Letter of Reference by the Issuing Bank and by the Bidder need to be on the same original copy or can the Bidder’s signed portion be delivered to the BGS Auction Manager’s office separately?


The Bidder’s signature of the certification on the... Read Answer

1/2/2018.


FAQ-120

Are all Pre-Auction Security documents required to be submitted as hardcopy originals including the Letter of Reference and the Letter of Intent to Provide a Guaranty?


All Pre-Auction security documents must be provided as... Read Answer

1/2/2018.


FAQ-119

Can we submit modifications to the Letter of Intent to Provide a Guaranty?


The sample Letter of Intent to Provide a Guaranty available... Read Answer

1/2/2018.


FAQ-118

Are bidders committed to bidding in round 1 of the Auction the number of tranches in their indicative offer at the maximum starting price as submitted in their Part 2 Application?


A bidder cannot bid more in the first round of the Auction... Read Answer

1/2/2018.


FAQ-117

Is cash an acceptable form of pre-auction security?


No, cash is not acceptable as pre-auction security. Each... Read Answer

1/2/2018.


FAQ-116

When should the expiry date be for the BGS Pre-Auction Letter of Credit?


The expiry date must be at least sixty (60) calendar days... Read Answer

1/2/2018.


FAQ-115

Does a Qualified Bidder in the BGS-RSCP Auction need to submit one Pre-Auction Letter of Credit for each EDC or a single Pre-Auction Letter of Credit for all EDCs?


Each Qualified Bidder provides a single Pre-Auction Letter... Read Answer

1/2/2018.


FAQ-114

What happens if a Qualified Bidder cannot make one or more of the certifications in the Part 2 Application?


It depends on the certification. Some certifications of the... Read Answer

1/2/2018.


FAQ-113

Is there a requirement that the bank that issues the Pre-Auction Letter of Credit be the same as the bank that issues the Letter of Reference?


Both the Pre-Auction Letter of Credit and the Sample... Read Answer

1/2/2018.


FAQ-112

Can we provide the letter of credit that our bank wants to issue to the BGS Auction Manager as a redline to the standard format for review?


Bidders had the opportunity to suggest modifications to the... Read Answer

1/2/2018.


FAQ-111

Will the EDCs evaluate the acceptability of our draft Letter of Reference before we submit it for purposes of the Part 2 Application?


The EDCs do not provide courtesy reviews of draft... Read Answer

1/2/2018.


FAQ-110

In our Part 1 Application for the BGS-RSCP Auction, we presented financial information for our Guarantor. If we decide not to rely on the financial standing of our Guarantor and to rely on our own financial standing instead going forward, how should we provide notice to the Auction Manager?


The Auction Manager provides to each Qualified Bidder a... Read Answer

1/2/2018.


FAQ-109

Can you confirm that no pre-auction security is required under the Part 1 Application and that any pre-auction security required is due with the Part 2 Application?


Correct. There is no pre-auction security required with the... Read Answer

12/8/2017.


FAQ-104

In the event that we become a winning bidder in the Auction, is it required for the Authorized Representative or the Officer who names the Authorized Representative in the Part 1 Application to be the individual who executes the applicable Supplier Master Agreement (“SMA”)?


Neither the Authorized Representative, nor the Officer who... Read Answer

11/29/2017.


FAQ-103

Does an applicant to the BGS Auctions need to be a Load Serving Entity (“LSE”) in the PJM Interconnection, L.L.C. (“PJM”) at the time of submitting the Part 1 Application?


No, the applicant does not need to be a PJM LSE at the time... Read Answer

11/29/2017.


FAQ-102

We do not have an office in New Jersey and we do not have a legal representative in New Jersey. Can you explain how we may comply with the requirements of Section 3 of the Part 1 Application?


Section 3 of the Part 1 Application does not compel the... Read Answer

11/29/2017.


FAQ-101

The Part 1 Application asks for financial information for the Bidder. Are we required to provide this information if we rely on the financial standing of a guarantor?


Section 6 of the Part 1 Application asks the Applicant to... Read Answer

11/29/2017.


FAQ-30

Is there an opportunity to change the Bidder Team throughout the BGS process to account for employee turnover?


The Bidder Team consists of an Authorized Representative... Read Answer

10/18/2017.


FAQ-25

Who manages the process for potential suppliers to register to participate in the BGS Auctions? Does a supplier have to show that it is already a PJM Load Serving Entity (“LSE”) in order to qualify?


A potential supplier must submit to a two-part application... Read Answer

10/18/2017.


FAQ-24

Are there any state licensing requirements for a BGS Supplier? Do we have to register in some way with the New Jersey Board of Public Utilities?


There are no state licensing requirements associated with... Read Answer

10/18/2017.


FAQ-23

How can I become qualified to participate in the BGS Auctions?


The Application Process is conducted online at... Read Answer

10/17/2017.


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What's New

Board Approves Results of 2018 BGS Auctions...   GO >>

ANNOUNCEMENT: Processing Priorities for Bidder Questions...   GO >>

POSTINGS: Final Decrement Formulas and Mark-to-Market Information Release...   GO >>

POSTING: EDC Municipal Aggregation Enrollment and CIEP Opt-In Files ...   GO >>

ANNOUNCEMENT: Final Seasonal Factors POSTING: Updated BGS-RSCP Rate Spreadsheets and Rate Spreadsheet Tool...   GO >>

Announcement: Rates for Firm Transmission Service...   GO >>

REMINDER: Part 2 Application Deadline is TODAY, Wednesday, January 10, 2018...   GO >>

REMINDER: Part 2 Application Deadline is TOMORROW, Wednesday, January 10, 2018...   GO >>

REMINDER: Part 2 Application Deadline is Wednesday, January 10, 2018...   GO >>

Announcement: Rates for Firm Transmission Service Expected to be Announced by January 16, 2018...   GO >>

REMINDER: Part 2 Application Deadline is Wednesday, January 10, 2018...   GO >>

ANNOUNCEMENT: Online Part 2 Form AVAILABLE!...   GO >>

FINAL REMINDER: Part 1 Application is Due by NOON TODAY!...   GO >>

ANNOUNCEMENT: Compliance Filing Documents Approved as Final Documents; POSTING: Terms and Conditions of Auction Software ...   GO >>

REMINDER: Part 1 Application is Due TOMORROW, Tuesday, December 12!...   GO >>

POSTING: Bidder Information Webcast Materials...   GO >>

REMINDER: Part 1 Application is Due Tuesday, December 12!...   GO >>

POSTING: Compliance Filing Documents...   GO >>

REMINDER: Part 1 Application is Due Tuesday, December 12!...   GO >>

POSTING: Auction Rules and Supplier Master Agreements...   GO >>

ANNOUNCEMENT: Online Part 1 Form Now Open!...   GO >>

ANNOUNCEMENT: Daily FAQ Postings; POSTING: Association and Confidential Information Rules Q&A ...   GO >>

FINAL REMINDER: RSVP Now for the Bidder Information Webcast TODAY!...   GO >>

ANNOUNCEMENT: Board Decision on BGS Proposals...   GO >>

REMINDER: RSVP Now for the Upcoming Bidder Information Webcast!...   GO >>

ANNOUNCEMENT UPDATE: Total 2018 Auction RSCP Peak Load Share (MW) Update...   GO >>

POSTING: Final Part 2 Application Form...   GO >>

ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2018 BGS-RSCP Auction...   GO >>

ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2018 BGS-CIEP Auction...   GO >>

INVITATION: RSVP Now for the Upcoming Bidder Information Webcast!...   GO >>

POSTING: Post-Auction Letters of Credit...   GO >>

POSTING: BGS Pre-Auction Letters of Credit...   GO >>

FINAL REMINDER: Deadline for Comments on Letters of Credit is TOMORROW, October 24...   GO >>

POSTINGS: Illustrative Application Forms and Webcast FAQs...   GO >>

REMINDER: Comment Process for Letters of Credit...   GO >>

POSTING: Bidder Information Webcast Materials...   GO >>

Comment Process for Letters of Credit: Posting of Further Documents...   GO >>

Comment Process for Letters of Credit: Posting of Further Documents...   GO >>

REMINDER: RSVP Now for the Upcoming Bidder Information Webcast!...   GO >>

REMINDER: RSVP Now for the Upcoming Bidder Information Webcast!...   GO >>

REMINDER: RSVP Now for the Upcoming Bidder Information Webcast!...   GO >>

ANNOUNCEMENT: RSVP Now for the Upcoming Bidder Information Webcast!...   GO >>

INVITATION: Comment Process for Letters of Credit...   GO >>

POSTING: Alternate Guaranty Process...   GO >>

Deadline for Initial Comments on Proposals for Procurement of BGS is Tomorrow...   GO >>

Deadline for Initial Comments on Proposals for Procurement of BGS...   GO >>

POSTING: First FAQs and BGS-RSCP Pricing Spreadsheet Tool...   GO >>

ANNOUNCEMENT: EDCs' Filing is Available on the BGS Auction Website...   GO >>

Board Approves Results of 2017 BGS Auctions...   GO >>