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Frequently Asked Questions - Topics - Credit

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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 (17)
Association and Confidential Information Rules (49)
Auction Rules (2)
Credit (9)
Data (19)
General (17)
Rates (7)
SMA Section 15.9 (6)
Supplier Master Agreement  (2)

Credit

FAQ-122

Please provide contact information for each beneficiary of the Pre-Auction Letter of Credit.


Contact information for the beneficiaries of the... Read Answer

1/8/2019.


FAQ-121

Why does Annex 2 of the Pre-Auction Letter of Credit have the signature line for a single EDC (rather than signature lines for each of the four EDCs like Annex 1)?


When drawing upon the Pre-Auction Letter of Credit, the... Read Answer

1/8/2019.


FAQ-119

If we are awarded tranches in a BGS Auction, when must we meet the credit requirements of the BGS Supplier Master Agreement?


The New Jersey Board of Public Utilities... Read Answer

1/8/2019.


FAQ-110

Can we submit a Letter of Intent to Provide a Guaranty that does not follow the sample provided on the BGS Auction website?


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

12/19/2018.


FAQ-109

Is the Letter of Intent to Provide a Guaranty posted as a “sample” to the BGS Auction website the final one, or will there be another version marked “final” posted at a later time? 


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

12/19/2018.


FAQ-105

Where should the Pre-Auction Letter of Credit be sent?  Do you have contact information for the beneficiaries at this time?


The Pre-Auction Letter of Credit should be sent to: BGS... Read Answer

12/6/2018.


FAQ-100

Does the Applicant have to be rated by the major ratings agency to successfully complete the Part 1 Application for the BGS Auctions?


It is not a requirement of the Part 1 Application that an... Read Answer

11/29/2018.


FAQ-49

What is the difference in the $70K/tranche required under the BGS-CIEP Supplier Master Agreement on slide 22 and the $375K/tranche required as a financial guarantee on slide 47?


The $70K/tranche is the credit requirement during term of... Read Answer

10/16/2018.


FAQ-12

If we advise the Auction Manager that we have decided not to bid in the Auction, will our Pre-Auction Security documents be returned?


No. The Auction Manager will hold the Pre-Auction Security... Read Answer

8/14/2018.


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What's New

Board Approves Results of 2019 BGS Auctions...   GO >>

ANNOUNCEMENT: Board Meeting Scheduled for Thursday, February 7, 2019...   GO >>

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

POSTING: Clean Energy Act Example Calculation...   GO >>

POSTINGS: Final Decrement Formulas...   GO >>

POSTING: Mark-to-Market Information Release...   GO >>

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

POSTING: BGS-CIEP Opt-Ins File...   GO >>

POSTING: Updated EDC Municipal Aggregation Enrollment ...   GO >>

REMINDER: Part 2 Application Deadline is Thursday, January 10, 2019...   GO >>

REMINDER: Part 2 Application Deadline is Thursday, January 10, 2019...   GO >>

POSTING: Revised Order Regarding RPS Obligations for BGS Suppliers...   GO >>

POSTING: Order Regarding RPS Obligations for BGS Suppliers...   GO >>

ANNOUNCEMENT: Technical Issues Resolved...   GO >>

ANNOUNCEMENT: Online Part 2 Form Now OPEN!...   GO >>

ANNOUNCEMENT: Temporary Technical Issues...   GO >>

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

DEADLINE: Part 1 Application is Due TOMORROW!...   GO >>

POSTING: Bidder Information Materials...   GO >>

REMINDER: Part 1 Application is Due Tuesday, December 18! ...   GO >>

ANNOUNCEMENT: Compliance Filing Documents Approved as Final Documents ...   GO >>

REMINDER: Part 1 Application is Due Tuesday, December 18!...   GO >>

POSTING: Compliance Filing Documents...   GO >>

ANNOUNCEMENT: Daily FAQ Postings; REMINDER: Part 1 Applications Due by NOON on December 18...   GO >>

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

ANNOUNCEMENT: Stakeholder Meeting Regarding RPS Obligations for BGS Suppliers...   GO >>

POSTINGS: Bidder Information Webcast Presentation and Board Order on BGS Auction Process...   GO >>

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

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

ANNOUNCEMENT: Board Decision on BGS Proposals INVITATION: RSVP for BGS Webcast...   GO >>

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

ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2019 BGS-RSCP Auction...   GO >>

ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2019 BGS-CIEP Auction...   GO >>

POSTING: Association and Confidential Information Rules Q&A...   GO >>

POSTINGS: Pre-Auction Security Documents and Post-Auction Letter of Credit...   GO >>

REMINDER: Deadline to Propose Modifications to the Letters of Credit is TOMORROW!...   GO >>

REMINDER: Deadline to Propose Modifications to the Letters of Credit is Tuesday, October 23; POSTING: Bidder Information Packet...   GO >>

POSTINGS: Illustrative Application Forms and Bidder Information Webcast Presentation...   GO >>

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

Deadline for Final Comments on Proposals for Procurement of BGS is Tomorrow, Friday, October 12...   GO >>

FINAL REMINDER: Bidder Information Webcast TODAY!...   GO >>

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

REMINDER: Alternate Guaranty Process: Expressions of Interest Due October 23...   GO >>

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

ANNOUNCEMENT: Hearing on Proposals for Procurement of BGS...   GO >>

POSTING: Alternate Guaranty Process...   GO >>

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

POSTING: BGS-RSCP Pricing Spreadsheet Tool...   GO >>

POSTING: First FAQs...   GO >>

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

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