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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 (3)
Association and Confidential Information Rules (49)
Auction Rules (1)
Data (6)
General (9)
Pre-Auction Security (8)
Rates (1)
Renewable Portfolio Standards (1)
Supplier Master Agreement  (6)

Pre-Auction Security
FAQ-83. 

When are the Pre-Auction Letter of Credit and Part 2 Application due? What happens if we receive a deficiency notice from the Auction Manager?

The Pre-Auction Letter of Credit must be provided with the... Read Answer

1/11/2024.
FAQ-80. 

What form of Pre-Auction Security am I required to submit with the Part 2 Application? Are two separate pre-auction letters of credit required for the BGS-CIEP and BGS-RSCP Auctions?

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

1/4/2024.
FAQ-77. 

Is cash an acceptable form of pre-auction security?

Cash is not acceptable as pre-auction security.  Each... Read Answer

12/21/2023.
FAQ-76. 

Our Notification of Qualification for the BGS-RSCP Auction stated that we may submit a Letter of Reference for purposes of meeting the pre-auction security requirements of the Part 2 Application. What is the purpose of a Letter of Reference?

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

12/21/2023.
FAQ-70. 

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

11/27/2023.
FAQ-69. 

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

11/20/2023.
FAQ-16. 

Our bank is requiring the physical addresses of the EDCs for purposes of issuing a Pre-Auction Letter even though the bank will submit the Pre-Auction Letters of Credit to the EDCs and to the BGS Auction Manager as an electronic PDF file via electronic means only. Can you provide the physical addresses for the EDCs for purposes of issuing Pre-Auction Letters of Credit?

The Auction Manager provided contact information for each... Read Answer

10/24/2023.
FAQ-15. 

When is the Pre-Auction Letter of Credit due?

The Pre-Auction Letter of Credit must be provided with the... Read Answer

10/24/2023.
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