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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 as time permits.

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Application (10)
Association and Confidential Information Rules (49)
Credit (6)
Data (14)
General (10)
Pre-Auction Security (13)
Rates (1)
Renewable Portfolio Standards (2)
Supplier Master Agreement  (7)

Credit
FAQ-90. 

How should Pre-Auction Security documents, including the Pre-Auction Letter of Credit, Letter of Reference, Letter of Intent to Provide a Guaranty, and Bid Bond, be provided?

All Pre-Auction security documents are required to be... Read Answer

12/19/2024.
FAQ-88. 

Is cash an acceptable form of pre-auction security?

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

12/19/2024.
FAQ-78. 

When was the deadline to propose modifications to the Pre-Auction Letters of Credit as well as the Post Auction Letters of Credit?

The deadline to propose modifications to the standard form... Read Answer

12/10/2024.
FAQ-15. 

Is accounts payable netted out of the Mark-to-Market Exposure Amount for purposes of calculating the Total Exposure Amount?

Yes. The Total Exposure Amount (“TEA”) reflects... Read Answer

8/20/2024.
FAQ-13. 

Can you please send recent price curves that have been used to calculate mark-to-market exposure amounts?

The data you request is not available. However, please find... Read Answer

8/13/2024.
FAQ-12. 

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

8/13/2024.
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