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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.

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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)

Credit

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-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-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.


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