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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 (7)
Association and Confidential Information Rules (49)
Credit (3)
Data (4)
General (10)
Pre-Auction Security (6)
Rates (1)
Renewable Portfolio Standards (1)
Supplier Master Agreement  (7)

Pre-Auction Security
FAQ-83. 

Is it possible to increase the amount of our pre-auction letter of credit for the BGS-RSCP Auction instead of providing a letter of reference?

A bidder always has the option, instead of providing a... Read Answer

1/9/2023.
FAQ-82. 

Is cash an acceptable form of pre-auction security?

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

1/9/2023.
FAQ-81. 

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

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

1/8/2023.
FAQ-78. 

We are relying on the financial standing of a foreign Guarantor for the BGS Auctions. We understand that should we win tranches in the Auction we will be required to submit additional documentation upon execution of the BGS-CIEP or BGS-RSCP Supplier Master Agreement (“SMA”) as a condition of being granted credit limits as applicable under the SMAs. Can we use the same set of the additional documentation for multiple EDCs or does each EDC require a separate set of additional documents?

Should a bidder win tranches with more than one of the... Read Answer

12/22/2022.
FAQ-22. 

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

11/21/2022.
FAQ-18. 

We proposed modifications to the Pre-Auction and Post-Auction Letters of Credit in a prior BGS Auction.  Do we need to resubmit these modifications for consideration during the current process? 

If the modifications that you previously proposed appear in... Read Answer

10/17/2022.
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