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Frequently Asked Questions - Topics - Pre-Auction Security

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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)

Pre-Auction Security
FAQ-103. 

What should we include in the beneficiary block of the Pre-Auction Letters of Credit?

The beneficiary block of the BGS-RSCP and BGS-CIEP... Read Answer

1/14/2025.
FAQ-102. 

Can you please provide beneficiary contact information for purposes of preparing the BGS-RSCP Pre-Auction Letter of Credit and BGS-CIEP Pre-Auction Letter of Credit?  

Beneficiary contact information for the BGS-RSCP... Read Answer

1/8/2025.
FAQ-101. 

How should the Letter of Reference be submitted?

The Letter of Reference is submitted only via electronic... Read Answer

1/8/2025.
FAQ-100. 

Who can sign the certification from the Qualified Bidder in the Letter of Reference? 

The certification from the Qualified Bidder in the Letter... Read Answer

1/8/2025.
FAQ-98. 

Is additional pre-auction security required to participate in the BGS-CIEP Auction?

A Qualified Bidder in the BGS-CIEP Auction is not required... Read Answer

1/6/2025.
FAQ-97. 

What amount of pre-auction security should be issued in order to be eligible to bid on the maximum number of tranches available in the BGS-RSCP and BGS-CIEP Auctions?

For the BGS-CIEP Auction, the BGS-CIEP Pre-Auction Letter... Read Answer

1/6/2025.
FAQ-96. 

Are two separate pre-auction letters of credit required for the BGS-CIEP and BGS-RSCP Auctions?

Yes. If participating in both the BGS-CIEP and BGS-RSCP... Read Answer

1/6/2025.
FAQ-91. 

Which email address should we use in Paragraph 12 of the Pre-Auction Letters of Credit?

The BGS Auction Manager’s email, ... Read Answer

12/19/2024.
FAQ-87. 

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

12/19/2024.
FAQ-83. 

Will the EDCs review a draft Pre-Auction Letter of Credit prior to our bank issuing such document?

With the Part 2 Application, bidders must submit their... Read Answer

12/16/2024.
FAQ-81. 

What is the purpose of a Letter of Reference?

The total amount of pre-auction security required with the... Read Answer

12/12/2024.
FAQ-77. 

What are the requirements for the issuing bank of the Letter of Reference?

The issuing bank of the Letter of Reference must meet a... Read Answer

12/9/2024.
FAQ-73. 

If we present financial information for a Guarantor in the Part 1 Application and we are qualified on that basis, can we change the entity upon whose financial standing we are relying at a later time?

No.  The Auction Manager provides to each Qualified... Read Answer

11/25/2024.
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