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The Auction Manager has posted two forms of the DRAFT Pre-Auction Letter of Credit for each Auction: (i) a draft form that allows for hardcopy delivery of the Pre-Auction Letter of Credit to the BGS Auction Manager; and (ii) a draft form that allows for delivery to the BGS Auction Manager via electronic means only. In addition, the Auction Manager has posted the DRAFT Post-Auction Letter of Credit.
Potential bidders are invited to propose modifications by submitting a redline of these documents in Microsoft Word. Potential bidders may include explanatory notes. For each modification proposed to a Letter of Credit, the electric distribution companies (“EDCs”) will:
- accept the modification and revise the Letter of Credit; or
- approve the use of the modification on an optional basis; or
- reject the proposed modification.
Potential bidders may download the MS Word format of each Letter of Credit from the Contract & Credit page. For a complete description of the comment process, please refer to the document titled “Comment Process on the Letters of Credit (Pre-Auction and Post-Auction)” also posted on the Contract & Credit page.
The exclusive method for submitting proposed modifications to a Letter of Credit is as a redline MS Word document of the Draft Letter of Credit. Potential bidders send the redlined Draft Letter of Credit to the BGS Auction Manager at the following address: BGS-Auction@nera.com.
October 12, 2020.
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