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Block Energy FAQs 2026

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All Bid Assurance Collateral Bid Evaluation Bids Contract General Part 1 Proposal Part 2 Proposal Post-Bid Collateral Post-Bid Process Rules
Q: How are the Mark-to-Market Value and the collateral requirement calculated?

Please note that the information provided here is a simplification of the process and information related to performance assurance and each supplier is responsible to understand the terms of the applicable contract, including but not limited to Paragraph 4 and Paragraph 10 of the Collateral Annex as amended by the contract (in the case of AIC and MEC) or the Coversheet of the applicable contract (in the case of ComEd).

First, for calculating the mark-to-market value, initial marks are calculated using price quotes dated with the Bid Date. Marks will be calculated each business day beginning the day after the initial marks are provided and continuing until the final deliveries have been made. The Current Mark-to-Market Value will be computed by multiplying the appropriate energy volumes by the difference between the initial marks and the updated marks derived from updated price quotes.

Second, a Company’s total credit exposure to the supplier is calculated on an aggregate basis and includes credit exposure calculated under the applicable energy contract as well as credit exposure under any other supply contracts as set forth in Section I, Subsection A of Paragraph 10 to the Collateral Annex as amended by the applicable contract or coversheet of the contract. In the event the total exposure amount for any day is a negative number, the total exposure amount shall be deemed to be zero for such day.

If on any day, the collateral requirement (which is the total exposure amount less any unsecured credit granted or any performance assurance posted) after rounding up to the nearest $10,000 exceeds the Minimum Transfer Amount of $100,000, then a Company may require the supplier to post margin to cover the exposure in the form of a letter of credit or cash. The Companies will notify the supplier in the morning on any day that the supplier will be required to post margin to cover additional exposure.

Please note that for ComEd contact information is provided for Credit and Collateral questions regarding initial collateral requirements as part of the (ComEd) Master Agreement execution process.

2026-04-17
Post-Bid Collateral
Q: When must we meet the creditworthiness requirements for ComEd? Does the Guaranty expire?

Winning bidders must meet the creditworthiness requirements under the applicable supplier contracts by 12 PM CPT on the third business day after the ICC decision.

Winning bidders in the ComEd procurement event wishing to rely on the financial standing of a Guarantor must use the standard form of guaranty, “Schedule 2 to the Collateral Annex (Guaranty)”, and may incorporate the optional changes for ComEd. The optional changes for ComEd are in the document named “Optional Changes to the Form of Guaranty”. Please see Paragraph 11 of Schedule 2 to the Collateral Annex (Guaranty) for details on the Guaranty’s expiration. Specifically, the Guaranty shall remain in full force and effect until all Guaranteed Obligations have been fully and finally paid, at which point it will expire. Further, the Guaranty may be terminated only if the Bidder posts alternative means of security or credit support.

A Bidder may also meet the collateral requirements of the (ComEd) Master Agreement by posting cash or using one of two options for the Post-Bid Standard Form of Letter of Credit available under the (ComEd) Master Agreement. All documents referenced are posted to the Final Materials page of the procurement website.

It is the responsibility of each bidder to review the terms of the applicable supplier agreement posted to the Block Energy and Capacity Procurement section of the procurement website. Each bidder accepts these terms as a condition of its participation in the BEC RFP.

2026-04-17
Post-Bid Collateral
Q: When will Bidders be notified whether if any of their Bids will be identified as winning Bids to the ICC in the energy procurement events?

Although no notification is required prior to Commission approval under the PUA, the Procurement Administrator expects to notify a Bidder that had Bids in a procurement event for Energy Products that were evaluated whether any of the Bidder’s Bids will be identified as “winning Bids” to the ICC by 6:30 PM CPT on the Bid Date for Energy Products, however, it is possible that such notification will be provided after 6:30 PM CPT.

Please see Paragraph VI.2.12 of the RFP Rules for further information.

2026-04-17
Post-Bid Process
Q: What is the price paid to a winning Bidder for each block of an Energy Product that such Bidder won?

Please see Paragraph VI.2.14 of the RFP Rules, which states “[f]or each Segment of each month, the price paid to the winning Bidder is the average of the Bidder’s own winning Bids for all blocks of that Product and for all blocks of a Combination that includes that Segment of that month.”

2026-04-16
Contract
Q: Is the Seller responsible for arranging transmission service?

As stated in Section 3.2 Transmission and Scheduling of the (ComEd) Master Agreement, “Seller shall arrange and be responsible for transmission service to the Delivery Point and shall Schedule or arrange for Scheduling services with its Transmission Providers, as specified by the Parties in the Transaction, or in the absence thereof, in accordance with the practice of the Transmission Providers, to deliver the Product to the Delivery Point. Buyer shall arrange and be responsible for transmission service at and from the Delivery Point and shall Schedule or arrange for Scheduling services with its Transmission Providers to receive the Product at the Delivery Point.” Further inquiries regarding types of transmission services should be directed to PJM.

2026-04-14
Contract
FAQ-BEC-20
Q: If we paid the Bid Participation Fee in a year prior to 2026, do we need to pay the Bid Participation Fee for the Spring 2026 BEC RFP?

Yes. A Bidder that has not paid a Bid Participation Fee pursuant to its participation in a prior 2026 procurement event and that submits a Part 1 Proposal is required to pay a nonrefundable Bid Participation Fee for the Spring 2026 BEC RFP.

2026-03-09
Part 1 Proposal
Q: When and under what circumstances will the cash posted as bid assurance collateral for the Spring 2026 BEC RFP be returned?

All bid assurance collateral remains in place until the Commission has rendered a decision on the results of a procurement event. For Bidders with Bids approved by the Commission, bid assurance collateral remains in place until full execution of the applicable supplier contract and related documents, until the Bidder has met the credit requirements under the applicable supplier contract, and until payment of the Supplier Fee due to the Illinois Power Agency is received. Return of cash tendered as bid assurance to a Company is not initiated until the Bidder sends to a Company the fully executed request for the return of cash in a form acceptable to that Company. Bidders participating in a procurement event for AIC who are not yet set up on AIC’s vendor portal used for the return of cash should note that account set up may take six (6) business days after the Commission’s decision on the results of a procurement event. Bidders participating in the procurement event for MEC must also send to MEC a Vendor Request Form that MEC finds to be duly completed. Requirements related to MEC’s Vendor Request Form are described in Section V.6 of the RFP Rules.

The Commission renders its decision on the results of the procurement events for Energy Products on Thursday, April 23, 2026. The Commission renders its decision on the results of the procurement event for AIC Capacity Products on Thursday, May 21, 2026.

2026-04-14
Post-Bid Process
Q: Can the Issuing Bank request that the Pre-Bid Letter of Credit for a Company be cancelled before the Expiration Date?

The Issuing Bank may request that the Pre-Bid Letter of Credit for a Company be cancelled before the Expiration Date but after the ICC renders its decision on the results of a procurement event if either: 1) the Bidder is a winning Bidder, the applicable supplier contract and related documents have been executed, the Bidder has met the credit requirements under the applicable supplier contract, and the Bidder has completed payment of the Supplier Fees due to the Illinois Power Agency; or 2) the Bidder is not a winning Bidder. Please see Paragraph VI.2.18 for additional information on deadlines related to the Post-Bid Process.

The Issuing Bank should send such request for cancellation by email to the email addresses provided in the applicable Pre-Bid Letter of Credit for a Company. A Company will cancel the Pre-Bid Letter of Credit by sending an electronic PDF file of Annex 3 Certificate of Cancellation executed by an Authorized Officer of the Company.

2026-04-14
Post-Bid Process
Q: Will there be a calendar invite for Bidder Training?

Bidder Training is done via the Procurement Administrator’s Secure Bid Transfer interface and is not conducted via a webcast. As such, there will be no calendar invite related to Bidder Training.

Bidder Training consists of time set aside for Bidders to practice all aspects of the bid submission procedures. The Procurement Administrator is available at that time to answer questions regarding the completion of the Bid Form(s) and to evaluate the Bid Form(s).

Please have on hand the Invitation(s) to Bidder Training, the Bid Form(s), the Confidential Information for Training (blue background), and the Bid Form Guide(s). These documents were distributed with the Part 1 Notification via the application website on March 30, 2026. A Bidder can access these files using the same login credentials used to access the online Part 1 and Part 2 Forms. Please see the “My Documents” section.

If you are unable to practice the bid submission procedures during the designated timeframe, please contact the Procurement Administrator to schedule an alternate time to practice the bid submission procedures.

Please note that the individual signing the required certification in the Bid Form(s) on the Bid Date(s) must be authorized to submit the Bids. This individual must be an individual named in the Part 1 Proposal or must be the individual with whom receipt of the Bid Form is confirmed.

2026-04-09
General
Q: What is a “Bid” on a “Combination” in the block energy procurement events?

A “Product” is a constant quantity of energy to be supplied to a Company at the delivery point specified by that Company in either the On-Peak Segment or the Off-Peak Segment of a specific month. A “Combination” is a grouping of two (2) or more Products in a given Segment and in a given year (and for a given Company). A “Bid” is the price that the Bidder is willing to accept to deliver each MWh in one (1) block to the Company. A Bid must be displayed as a price in $/MWh for one (1) block of a Product or for one (1) block of a Combination.

Each Bid constitutes a binding and irrevocable offer to supply a block of a Product or a block of the Combination at the price provided as the Bid and under the terms of the applicable supplier contract. For example, a Bid for the On-Peak Jun26 to May27 Combination for a Company constitutes a binding and irrevocable offer to supply a block of each of the 12 Products included in the Combination at the price provided as the Bid for the On-Peak Jun26 to May27 Combination and under the terms of the applicable supplier contract.

2026-04-09
Bids Rules
Q: We would like to amend the amount of our Pre-Bid Letters of Credit for the AIC Energy procurement event and for the ComEd procurement event. How do we do so?

If you would like to the modify the amount of the Pre-Bid Letter of Credit for the AIC Energy procurement event or for the ComEd procurement event, you must submit an amendment to the applicable Pre-Bid Letter of Credit. The amendment must modify the amount of the applicable Pre-Bid Letter of Credit to an amount no less than $5,000 times the total number of blocks that the Bidder intends to bid across all Segments and months for either AIC Energy Products or ComEd, or $250,000, whichever is greater. The electronic PDF file of the amendment to the applicable Pre-Bid Letter of Credit must be sent from the issuing bank to the email addresses provided in the instructions for the submission of Bid Assurance Collateral that were provided to Bidders by email on March 19, 2026. Any amendment must be received and accepted prior to the close of the Bid Window on the Bid Date.

2026-04-09
Bid Assurance Collateral
FAQ-BEC-29
Q: Where can I find the details of the bid submission procedures for Energy Products?

The bid submission procedures for Energy Products are detailed in Sections V.9, V.11, and VI.2 of the BEC RFP Rules. A Bidder submits its Bids for a procurement event for Energy Products electronically according to the instructions of the Procurement Administrator. The Bid Forms, confidential information, and bid form guide with instructions for the submission of Bids were distributed with the Part 1 Notification via the application website on March 30, 2026. A Bidder can access these files using the same login credentials used to access the online Part 1 and Part 2 Forms. Please see the “My Documents” section.

It is the responsibility of each bidder to review the terms and conditions of the RFP Rules posted to the Block Energy and Capacity Procurement section of the procurement website. Each bidder accepts these terms as a condition of its participation in the BEC RFP.

2026-03-31
Bids Rules
FAQ-BEC-30
Q: Are the Final Targets available in Microsoft Excel format?

The Final Targets are not available in Microsoft Excel format. The Final Targets are available in pdf format and are posted to the Final Materials page of the Block Energy and Capacity section of the procurement website under the “Spring 2026 Block Energy and Capacity RFP Targets” heading.

2026-04-06
General
FAQ-BEC-28
Q: Can we execute and sign the Part 2 Inserts ahead of the Part 2 Window?

The Officer of the Bidder may make all representations required in the Part 1 Proposal and Part 2 Proposals at the same time. A Bidder that avails itself of this option may submit all applicable P2 Certifications Inserts during the Part 1 Window for early processing. The P2 Certifications Inserts are available on the procurement website.

2026-03-26
Part 2 Proposal
FAQ-BEC-26
Q: We are going to post cash as bid assurance collateral. Can you provide a phone number for each of the Companies for purposes of confirming wire transfers?

Please contact the Procurement Administrator at Illinois-RFP@nera.com to receive this information.

2026-03-24
Bid Assurance Collateral
FAQ-BEC-31
Q: Where can I find the Delivery Points under each of the block energy contracts for the Spring 2026 BEC RFP?

The delivery points under each of the block energy contracts are provided in Paragraphs I.5.3, I.5.4, and I.5.5 of the Spring 2026 BEC RFP Rules. The delivery points are also provided in each block energy contract: under Section 2 Transaction Terms on page 1 of the (AIC) Confirmation Agreement; on page 2 of the Confirmation Sheet for ComEd; and under Section 2 Transaction Terms on page 1 of the (MEC) Confirmation Agreement.

2026-04-06
Contract Rules
FAQ-BEC-27
Q: What are the expiration dates for the Pre-Bid Letters of Credit for Energy Products for the Spring 2026 BEC RFP?

The expiration date for the Pre-Bid Letters of Credit for Energy Products is May 13, 2026. The expiration date is pre-populated in each of the Standard Pre-Bid Letters of Credit posted to the Final Materials page of the Block Energy and Capacity section of the procurement website.

2026-03-25
Bid Assurance Collateral
FAQ-BEC-25
Q: What are the minimum amounts of bid assurance collateral that must be provided for each Company for the block energy procurement events? When will the amount of bid assurance collateral for each Company that will allow a Bidder to bid on all Blocks available for that Company be provided?

The bid assurance collateral for AIC Energy Products and for ComEd must be at least $250,000. The bid assurance collateral for MEC must be in an amount of $25,000.

The Final Targets and the amount of bid assurance collateral for AIC Energy Product and for ComEd that will allow a Bidder to bid on all Blocks available for that Company will be provided by March 30, 2026, the Part 1 Notification date. The amount of bid assurance collateral sufficient to bid on all Blocks available for AIC Energy Products and for ComEd is calculated by multiplying $5,000 by the number of blocks available for either AIC Energy Products or for ComEd.

2026-03-20
Bid Assurance Collateral
FAQ-BEC-24
Q: With reference to election (i) in the ComEd Contract Insert, please confirm whether or not the Federal Funds Effective Rate is applicable to the (ComEd) Master Agreement and if that is an option to be elected by the bidder?

The Federal Funds Effective Rate is not applicable under the (ComEd) Master Agreement. This is indicated by the checkbox pre-populated with an interest rate of zero (0) percent if a bidder elects for ComEd to hold cash. The only election that a bidder can make is either to allow ComEd to hold cash, in which case the interest rate will be zero (0) percent, or not to allow ComEd to hold cash.

2026-03-18
Contract Part 1 Proposal
FAQ-BEC-23
Q: Can you describe the contract execution process for the block energy procurement events?

The contract execution process is fully described in Paragraph VI.2.18 of the RFP Rules and summarized below.

By 12 PM CPT (1 PM Eastern Prevailing Time) on the third business day after the ICC decision, winning bidders must execute the signature pages of the partially executed applicable supplier contracts and related documents and send such fully executed signature pages to the Company electronically. Upon execution of the applicable supplier contracts and related documents in counterparts by both parties, such supplier contracts and related documents are fully executed.

Winning bidders must also meet the creditworthiness requirements under the applicable supplier contracts by 12 PM CPT on the third business day after the ICC decision.

Winning bidders in the AIC Energy procurement event wishing to rely on the financial standing of a Guarantor must provide a fully executed guaranty to AIC electronically by 12 PM CPT on the third day after the ICC decision. Bidders must use the standard form of guaranty, “Form of Guaranty”, and may incorporate the optional changes for AIC. The optional changes for AIC are in the documents named “Schedule 1 to the Form of Guaranty” and “Schedule 2 to the Form of Guaranty”. If this bidder is already a supplier to AIC from a prior procurement event, they may not amend their existing Guaranty and must issue a new Guaranty.

Winning bidders in the ComEd procurement event wishing to rely on the financial standing of a Guarantor must use the standard form of guaranty, “Schedule 2 to Collateral Annex (Guaranty)”, and may incorporate the optional changes for ComEd. The optional changes for ComEd are in the document named “Optional Changes to the Form of Guaranty”. If the winning bidder is already a supplier to ComEd from a prior procurement event, they can amend their existing Guaranty and are not required to issue a new Guaranty.

Winning bidders in the MEC procurement event wishing to rely on the financial standing of a Guarantor must provide a fully executed guaranty to MEC electronically by 12 PM CPT on the third day after the ICC decision. Bidders must use the standard form of guaranty, “Form of Guaranty”, and may incorporate the optional changes for MEC. The optional changes for MEC are in the documents named “Schedule 1 to the Form of Guaranty” and “Schedule 2 to the Form of Guaranty”. If this bidder is already a supplier to MEC from a prior procurement event, they may not amend their existing Guaranty and must issue a new Guaranty.

A Bidder may also meet the collateral requirements of the (AIC) Confirmation Agreement, (ComEd) Master Agreement, and (MEC) Confirmation Agreement by posting cash or using one of two options for the Post-Bid Letter of Credit available under each of the applicable supplier contracts. All documents referenced are posted to the Final Materials page of the procurement website.

2026-03-18
Post-Bid Process
FAQ-BEC-22
Q: Can I participate in only the block energy procurement events, but not the capacity procurement event?

Yes. The Spring 2026 Block Energy and Capacity Request for Proposals (“BEC RFP”) solicits bids from suppliers for four (4) procurement events: Energy Products for AIC, Energy Products for ComEd, Energy Products for MEC, and Capacity Products for AIC. Under the Spring 2026 BEC RFP, a Bidder presents a single Proposal for participation in any or all of the procurement events for AIC, ComEd, and MEC. For example, you could participate in only the ComEd procurement event for Energy Products, but not the AIC procurement event for Capacity Products.

2026-03-16
Rules
FAQ-BEC-21
Q: What is a “Bid” in the block energy procurement events? What is the price paid to a winning Bidder for each block of an Energy Product that such Bidder won?

A “Bid” is the price that the Bidder is willing to accept to deliver each MWh in one (1) block to the Company. A Bid must be displayed as a price in $/MWh for one (1) block of a Product or for one (1) block of a Combination. A block represents 25 MWs in each hour of a Product. A “Product” is a constant quantity of energy to be supplied to a Company at the delivery point specified by that Company in either the On-Peak Segment or the Off-Peak Segment of a specific month. A “Combination” is a grouping of two or more Products in a given Segment (and for a given Company).

For a given Company, in a given Segment of a given month, a Seller provides a constant amount of energy corresponding to the sum of the number of blocks won of the Product for that Segment of that month, and the number of blocks won of any Combination that includes that Segment of that month, times 25 MW. For each Segment of each month, the price paid to the Bidder is the average of the Bidder’s own approved Bids for all blocks of that Product and for all blocks of a Combination that includes that Segment of that month. The Seller is paid potentially a different price for each On-Peak Segment and Off-Peak Segment and each month of the June 1, 2026 to May 31, 2029 period for which energy is purchased through the procurement event for a Company. Each month for which the Seller has an approved Bid will be considered a Delivery Period.

2026-03-09
Bids Contract Rules
FAQ-BEC-19
Q: Where can I find information on the evaluation procedure for the Energy procurement events held under the Spring 2026 Block Energy and Capacity RFP?

A “Bid” is the price that the Bidder is willing to accept to deliver each MWh in one (1) block to the Company. A Bid must be displayed as a price in $/MWh for one (1) block of a Product or for one (1) block of a Combination.

The evaluation procedure is described in Section VI.2 of the Spring 2026 Block Energy and Capacity RFP Rules. The evaluation of Bids for the procurement of Energy Products for a Company proceeds in two steps. In the first step, all Bids that fail to meet the benchmarks are eliminated. In accordance with the Act, the benchmarks are established by the Procurement Administrator, in consultation with the IPA, the Procurement Monitor, and the ICC Staff. The benchmarks are confidential and subject to review and approval by the ICC. In the second step, the Procurement Administrator evaluates all Bids that meet or beat the benchmarks and selects a package of Bids (across blocks for individual Products as well as blocks for Combinations that include that Product) that procures all needed blocks, if possible, for the Company at the lowest average cost per MWh. This package of Bids is called the “Least Cost Package” (for that Company).

It is the responsibility of each bidder to review the terms and conditions of the RFP Rules posted to the Block Energy and Capacity Procurement section of the procurement website. Each bidder accepts these terms as a condition of its participation in the BEC RFP.

2026-03-09
Bid Evaluation Rules
FAQ-BEC-18
Q: Can we use a Pre-Bid Letter of Credit executed for the Spring 2026 BEC RFP for a future BEC RFP?

A Pre-Bid Letter of Credit for AIC or for ComEd executed for the Spring 2026 BEC RFP may be used to meet the Bid Assurance Collateral requirements for the Fall 2026 BEC RFP. A Bidder that wishes to have a Pre-Bid Letter of Credit for AIC or for ComEd executed for the Spring 2026 BEC RFP remain in place and serve as Bid Assurance Collateral for the Fall 2026 BEC RFP must use the acceptable modification to Paragraph 1 that extends the Expiration Date of the applicable Pre-Bid Letter of Credit. The final lists of acceptable modifications to the Pre-Bid Letters of Credit are posted to the Final Materials page of the Block Energy and Capacity section of the procurement website. The expiration date in the acceptable modification is tentative for the Fall 2026 BEC RFP and may be revised. Should the expiration date change, the Bidder will be required to amend Paragraph 1 for the revised date by the deadline to post Bid Assurance Collateral for the Fall 2026 BEC RFP.

2026-03-09
Bid Assurance Collateral
FAQ-BEC-17
Q: What is the minimum number of ZRCs a bidder can specify as the maximum willingness to supply (“MWS”) for a Product?

A Bidder may, but is not required to, specify a MWS for a Product, which is the maximum number of ZRCs, across MISO-Delivered ZRCs and Financially-Settled ZRCs, that the Bidder is willing to win for that Product, across all ZRCs bid on that Product individually as well as all ZRCs bid on Combinations that include that Product.

A Bid for Financially-Settled ZRCs for a given Season of a Planning Year must be for at least four (4) ZRCs at each price point. A Bid for MISO-Delivered ZRCs for a given Season and Source Zone of a Planning Year must be for at least four (4) ZRCs at each price point. As such, if a Bid for ZRCs has been placed for a given Season, the specified ZRC MWS for that Product must be at least four (4) ZRCs. There is no minimum quantity requirement for a Bid for a Combination.

The ZRC Default MWS may be less than four (4) ZRCs in the case where the Bidder submits a Bid on a Combination only, for a quantity of less than four (4).

If a Bidder does not specify a maximum willingness to supply, it will be assumed, for each Product, that the Bidder is willing to win up to the number of ZRCs bid across MISO-Delivered ZRCs and Financially-Settled ZRCs for that Product and across ZRCs bid on that Product individually and the Combinations that include that Product, or that the Bidder is willing to win up to the ZRC Target for that Product, whichever is smaller.

Please see Section V.10 of the RFP Rules for additional information regarding Bids on Capacity Products and maximum willingness to supply.

2026-03-09
Bids Rules
FAQ-BEC-16
Q: The RFP Rules state that “A Bid for ZRCs for a given Season of a Planning Year must be for at least four (4) ZRCs. There is no minimum quantity requirement for a Bid for a Combination.” Why is there a minimum quantity Bid for ZRCs for a given Season of a Planning Year?

The minimum quantity requirement, which applies to Bids for both Financially-Settled ZRCs for a given Season of a Planning Year at each price point and MISO-Delivered ZRCs for a given Season and Source Zone of a Planning Year at each price point was introduced to align with the number of months relevant to a Bid for a Planning Year in procurement events held prior to MISO’s change to a seasonal construct. Prior to MISO’s change to a seasonal construct, a Bid for a Planning Year consisted of 12 months and after the change, a Bid for a Season of a Planning Year consisted of three months. A Bid is again relevant to 12 months with the introduction of the minimum quantity requirement.

2026-03-09
Bids Rules
FAQ-BEC-15
Q: Can you provide an example where the financial settlement amount under the (AIC) Financially-Settled Capacity Agreement results in a payment from the Seller to AIC?

Under the terms of the (AIC) Financially-Settled Capacity Agreement, for a given Season of a Planning Year, the financial settlement amount is equal to the multiplicative product of (a) the result obtained by subtracting the ACP for the AIC Compliance Zone for such Season from the average of the Seller’s own approved Bids for such Season, in $/MW-day, (b) the number of calendar days in the Season, and (c) the number of Financially-Settled ZRCs approved by the Commission for the Season. The financial settlement can only be calculated once the MISO Planning Resource auction is completed for the Planning Year and the ACP for the AIC Compliance Zone is available. If the financial settlement amount is negative, then the Seller shall pay AIC the absolute value of this amount in accordance with the terms of the agreement.

No. of Financially-Settled ZRCs approved by the Commission for the Seller: 25 ZRCs for the Summer season
Average Winning Bid Price for the Summer season under the (AIC) Financially-Settled Capacity Agreement: $10/MW-day
AIC Compliance Zone ACP = $15/MW-day

Financial Settlement Amount = ($10 – $15) x 92 days x 25 ZRCs = – $11,500 (i.e., payment from Seller to AIC)

2026-03-09
Contract
FAQ-BEC-12
Q: With reference to the (AIC) MISO-Delivered Capacity Agreement, please confirm that there are no payment adjustments for ZRCs that are from the compliance zone, which is LRZ 4.

Yes, this is correct. Only ZRCs from outside the compliance zone are subject to payment adjustments under the term of the (AIC) MISO-Delivered Capacity Agreement.

2026-03-09
Contract
FAQ-BEC-14
Q: Can you provide an example where the financial settlement amount under the (AIC) Financially-Settled Capacity Agreement results in a payment from AIC to the Seller?

Under the terms of the (AIC) Financially-Settled Capacity Agreement, for a given Season of a Planning Year, the financial settlement amount is equal to the multiplicative product of (a) the result obtained by subtracting the ACP for the AIC Compliance Zone for such Season from the average of the Seller’s own approved Bids for such Season, in $/MW-day, (b) the number of calendar days in the Season, and (c) the number of Financially-Settled ZRCs approved by the Commission for the Season. The financial settlement can only be calculated once the MISO Planning Resource auction is completed for the Planning Year and the ACP for the AIC Compliance Zone is available. If the financial settlement amount is positive, then AIC shall pay the Seller this amount in accordance with the terms of the agreement.

No. of Financially-Settled ZRCs approved by the Commission for the Seller: 25 ZRCs for the Summer season
Average Winning Bid Price for the Summer season under the (AIC) Financially-Settled Capacity Agreement: $10/MW-day
AIC Compliance Zone ACP = $5/MW-day

Financial Settlement Amount = ($10 – $5) x 92 days x 25 ZRCs = $11,500

2026-03-09
Contract
FAQ-BEC-13
Q: I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) MISO-Delivered Capacity Agreement if the ZRCs are not from the compliance zone. Is this payment adjustment based on distance from the Compliance Zone (LRZ 4)?

The payment adjustment is based on the difference between the Auction Clearing Price from the MISO Planning Resource Auction (“PRA”) for the Source Zone associated with the ZRCs and the Compliance Zone (LRZ 4). Please see FAQ-BEC-10 and FAQ-BEC-11 for examples of the payment adjustment.

2026-03-09
Contract
FAQ-BEC-10
Q: I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) MISO-Delivered Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will result in a reduced payment to Seller?

Under the terms of the (AIC) MISO-Delivered Capacity Agreement, payments to Seller will be reduced if the Compliance Zone ACP in a season is greater than the Source Zone ACP in that season where the Compliance Zone is LRZ4. If the amount of the payment reduction is greater than the unadjusted payment, then Seller (not Buyer) will have to pay Buyer under the (AIC) MISO-Delivered Capacity Agreement. We provide 2 examples below to illustrate this point.

For purposes of the below examples, the “ACP” refers to the Auction Clearing Price from the MISO Planning Resource Auction (“PRA”) for the Summer season for the 2027/2028 Planning Year and the Compliance Zone is LRZ4. The examples below are hypothetical. The results of the 2027/2028 MISO PRA are not yet available.

Example 1: Where the adjustment results in a reduced payment from Buyer to Seller.
No. of ZRCs delivered by Seller: 25 ZRCs for the Summer season from Zone 3
Average Winning Bid Price for the Summer season under the (AIC) MISO-Delivered Capacity Agreement: $18/MW-day
Payment to Seller = $18 x 25 ZRCs x 92 days = $41,400
MISO Summer 2027/2028 PRA Results:
LRZ 4 ACP = $20/MW-day
LRZ 3 ACP = $6/MW-day
Adjustment to Payment = – ($20 – $6) x 25 ZRCs x 92 days = – $32,200
Adjusted Payment = $41,400 – $32,200 = $9,200

Example 2: Where the adjustment results in payment from Seller to Buyer.
No. of ZRCs delivered by Seller: 25 ZRCs for the Summer season from Zone 3
Average Winning Bid Price for the Summer season under the (AIC) MISO-Delivered Capacity Agreement: $10/MW-day
Payment to Seller = $10 x 25 ZRCs x 92 days = $23,000
MISO Summer 2027/2028 PRA Results:
LRZ 4 ACP = $20/MW-day
LRZ 3 ACP = $6/MW-day
Adjustment to Payment = – ($20 – $6) x 25 ZRCs x 92 days = – $32,200
Adjusted Payment = $23,000 – $32,200 = – $9,200  (i.e., payment from Seller to Buyer)

2026-03-09
Contract
FAQ-BEC-9
Q: Where can I find the results from previous RFPs for Block Energy and Capacity Products?

The results from previous procurement events can be found on the procurement website. If you click on the “Previous RFPs” link on the left-hand side of the home page, you can find a list of previous procurements. The results are posted on each procurement’s archived page.

2026-03-06
FAQ-BEC-11
Q: I understand that there could be a payment adjustment on delivered ZRCs under the (AIC) MISO-Delivered Capacity Agreement if the ZRCs are not from the compliance zone. Can you provide an example where the adjustment will add to the payment to Seller?

Under the terms of the (AIC) MISO-Delivered Capacity Agreement, payments to Seller will only be adjusted to reflect an increased payment if the Source Zone ACP in a season is greater than the Compliance Zone ACP in that season where the Compliance Zone is LRZ4.

For purposes of the below example, the “ACP” refers to the Auction Clearing Price from the MISO Planning Resource Auction (“PRA”) for the Summer season for the 2027/2028 Planning Year and the Compliance Zone is LRZ4. The example below is hypothetical. The results of the 2027/2028 MISO PRA are not yet available.

No. of ZRCs delivered by Seller: 25 ZRCs for the Summer season from Zone 3
Average Winning Bid Price for the Summer season under the (AIC) MISO-Delivered Capacity Agreement: $10/MW-day
Payment to Seller = $10 x 25 ZRCs x 92 days = $23,000
MISO Summer 2027/2028 PRA Results:
LRZ 4 ACP = $6/MW-day
LRZ 3 ACP = $20/MW-day
Adjustment to Payment = ($20 – $6) x 25 ZRCs x 92 days = $32,200
Adjusted Payment = $23,000 + $32,200 = $55,200

2026-03-09
Contract
FAQ-BEC-8
Q: Where can I find the posting of the bidder information webcast materials for the Spring 2026 Block Energy and Capacity RFP?

The presentation materials and the audio recording from the bidder information webcast scheduled for March 9, 2026 will be available on the Final Materials page of the Block Energy and Capacity section of the procurement website.

2026-03-05
General
FAQ-BEC-4
Q: What are the Delivery Points under each of the block energy contracts for the Spring 2026 BEC RFP?

The delivery point under the (AIC) Confirmation Agreement is the Ameren Illinois Company Load Zone (MISO CP Node AMIL.BGS6, or any successor thereto). The delivery point under the (ComEd) Master Agreement is the ComEd Residual Aggregate Pnode ID 116472935 (“COMED_RESID_AGG“) or its successor. The delivery point under the (MEC) Confirmation Agreement is the MEC Energy Company Load Zone (MISO CP Node MEC.MECB, or any successor thereto).

2026-02-26
Contract
FAQ-BEC-7
Q: Where can I find the Inserts to complete the online Part 1 and Part 2 Forms?

All Part 1 Form Inserts are available in zip files below the heading “Appendix 6: Part 1 Form (Illustrative) (February 27, 2026)” and all Part 2 Form Inserts are available in zip files below the heading “Appendix 7: Part 2 Form (Illustrative) (February 27, 2026)” on the Final Materials page of the Block Energy and Capacity section of the procurement website.

2026-03-05
Part 1 Proposal Part 2 Proposal
FAQ-BEC-6
Q: Our bank is requiring the physical address of a Beneficiary for purposes of issuing a Pre-Bid Letter for a Company even though the bank will submit the Pre-Bid Letter of Credit to a Company and to the Procurement Administrator as an electronic PDF file via electronic means only. Can you provide the physical addresses for the Companies for purposes of issuing Pre-Bid Letters of Credit?

Please email the Procurement Administrator at Illinois-RFP@nera.com to receive this information.

2026-03-05
Bid Assurance Collateral
FAQ-BEC-5
Q: Where can I find changes between the contract documents used for the Fall 2025 BEC RFP and the contract documents used for the Spring 2026 BEC RFP?

Redlines of the changes between the contract documents used for the Fall 2025 BEC RFP and the contract documents used for the Spring 2026 BEC RFP are posted to the Draft Documents page of the Block Energy and Capacity section of the procurement website. There are no changes between the draft contract documents and final contract documents as posted to the Final Materials page of the Block Energy and Capacity section of the procurement website.

2026-03-02
Contract
FAQ-BEC-3
Q: Can you please provide the provisional volumes to be procured by ComEd?

The provisional Targets for ComEd for each month are found in the Table I-2 of the draft Spring 2026 Block Energy and Capacity RFP Rules posted to the Draft Documents page of the Block Energy and Capacity section of the procurement website on January 22, 2026. The “Target” for a Product is the quantity of that Product that this RFP seeks to procure expressed in numbers of 25 MW blocks. Thus, the provisional number of MWs to be procured for July 2026 in the On-Peak segment for ComEd, for example, is 525 MW (21 x 25 MW). Table I-5 is the provisional number of blocks available for each Combination for ComEd, which is set to the minimum provisional Target for the Products in that Combination. Final Targets using an updated March 15, 2026 load forecast will be posted to the Final Materials page of the Block Energy and Capacity section of the procurement website by March 30, 2026.

The evaluation of Bids for the procurement of Energy Products for a Company, described in Section VI.2 of the draft RFP Rules, proceeds in two steps. In the first step, all Bids that fail to meet the benchmarks are eliminated. In the second step, the Procurement Administrator evaluates all Bids that meet or beat the benchmarks and selects a package of Bids (across blocks for individual Products as well as blocks for Combinations that include that Product) that procures all needed blocks, if possible, for the Company at the lowest average cost per MWh. This package of Bids is called the “Least Cost Package” (for that Company).

It is the responsibility of each bidder to review the terms and conditions of the RFP Rules posted to the Block Energy and Capacity Procurement section of the procurement website. Each bidder accepts these terms as a condition of its participation in the BEC RFP. The final RFP Rules will be posted on February 27, 2026.

2026-02-20
Rules
FAQ-BEC-1
Q: Can you provide instructions on how to submit the Bid Participation Fee?

Detailed instructions for the submission of the Bid Participation Fee will become available on March 10, 2026, the opening of the Part 1 Window.

2026-01-26
Part 1 Proposal
FAQ-BEC-2
Q: Is the Supplement U.S. Stay Protocol required to be executed by a winning Bidder or its Guarantor?

The Supplement U.S. Stay Protocol is not relevant to all Bidders nor to all Guarantors. The Supplement U.S. Stay Protocol is only relevant if the Bidder and/or its Guarantor is a “Regulated Entity” as that term is defined in the International Swaps and Derivatives Association (“ISDA”) 2018 U.S. Resolution Stay Protocol (“ISDA U.S. Stay Protocol”).

A supplier that is a Regulated Entity under the ISDA U.S. Stay Protocol has the option to execute the Supplement U.S. Stay Protocol by mutual agreement of the Parties. This option is not new for the procurement events held in 2026. During the proposal process, each Bidder will be asked to provide the information to prepare the applicable supplier contract and will be asked to check a box to indicate that they wish to use the Supplement U.S. Stay Protocol. A Bidder (or its Guarantor) that is not a Regulated Entity or that chooses not to use the Supplement U.S. Stay Protocol should simply leave this box unchecked. This information will be requested for each Company for which the Bidder submits a Proposal in the AIC Energy Contract Insert (#P1-3), the ComEd Contract Insert (#P1-5), the MEC Contract Insert (#P1-7), and/or the AIC Capacity Contract Insert (#P1-9).

2026-02-20
Contract