LREC/ZREC Year 4 RFP I nfo rma tio na l We b ina r Ma y 15, 2015 1
Program Overview Christie Bra dwa y, E ve rso urc e Ga ry Zie la nski, UI 2
Presentation Questions • Sub mit q ue stio ns via e ma il o nly: L RE C.ZRE C@ e ve rso urc e .c o m o Ple a se do no t sub mit q ue stio ns via Go T o We b ina r. Only e ma ile d o q ue stio ns will b e a ddre sse d. • Ma ste r list o f a ll q ue stio ns a nd a nswe rs will b e se nt to a ll we b ina r pa rtic ipa nts. 3
Standard Contract is the Controlling Document I n the e ve nt o f a ny inc o nsiste nc y b e twe e n the pro visio ns o f the L RE C/ ZRE C RF P o r a ny pa rt o f this pre se nta tio n, the pro visio ns o f the Sta nda rd Co ntra c t a re c o ntro lling . Bidde rs sho uld re vie w the Sta nda rd Co ntra c t a nd a ll a sso c ia te d do c ume nts tho ro ug hly a nd sub mit the ir Bids b a se d upo n the Sta nda rd Co ntra c t, whic h will so le ly g o ve rn the tra nsa c tio ns b e twe e n the se le c te d Bidde r a nd the ir c o unte rpa rty Co mpa ny thro ug h the te rm o f the re sulting c o ntra c t. 4
Eversource & UI Program Results Eversource Energy United Illuminating Category Size Total # Avg Avg Avg Total # UI Avg Avg Avg Projects $/REC $/REC $/REC Projects $/REC $/REC $/REC Selected Year 1 Year 2 Year 3 Selected Year 1 Year 2 Year 3 (To Date) (To Date) LRECs Up to 2 44 $66 $57 $56 10 $51.08 $49.43 $56.12 MW (↓14%) (↓2%) ( ↓3%) (14%) Large 250 – 60 $101 $77 $59 18 $117.27 $90.43 $65.76 ZRECs 1,000 (↓24%) (↓23%) ( ↓23%) (↓27%) kW Medium +100 – 188 $149 $94 $74 57 $135.36 $102.31 $76.40 ZRECs 250 kW (↓37%) (↓21%) ( ↓24%) (↓25%) Small 0 – 100 755 $164.22 $103.01 $80.97 150 $148.89 $112.54 $84.04 ZRECs kW (↓37%) (↓21%) (↓24%) (↓25%) Total 1,047 235 5
Procurement Process • Co mpe titive So lic ita tio n – (RF P) Project Type Size Annual Budget Renewable Energy Credit Price Cap ≥250 kW to 1,000 kW Large ZRECs Approximately $2.7 M Max = $281.52/REC Medium ZRECs >100 kW < 250 kW Approximately $2.7 M Max = $281.52/REC LRECs Up to 2,000 kW $4 M Max. $200/REC • Ye a r 3 Sma ll ZRE C T a riff Project Type Size Annual Budget Renewable Energy Credit Price Cap Small ZRECs Up to 100 kW Approximately $2.7 M Weighted Average of the Medium ZREC price + 10% - UI = $84.04 - Eversource = $80.97 6
LREC & ZREC Eligibility • Must b e lo c a te d b e hind a c o ntra c ting utility re ve nue me te r a nd ha ve a de dic a te d RE C me te r • Must no t ha ve re c e ive d funding / g ra nts fro m CT Gre e n Ba nk o r its pre de c e sso rs CE F I A o r the CCE F (o the r tha n lo w c o st fina nc ing ) • Pro je c ts must b e in se rvic e o n, o r a fte r, July 1, 2011 • Must b e e lig ib le to q ua lify a s a Cla ss I Re ne wa b le Pro je c t (CT PURA a pplic a tio n a nd a ppro va l pro c e ss) • Must c e rtify site c o ntro l (3 sig na ture a nd a no ta ry re q uire d) 7
Request for Proposals (RFP) • RF P c o ve rs L RE C Pro je c ts a nd ZRE C Pro je c ts >100 kW o Sma ll ZRE C Pro je c ts a re no t c o ve re d b y this RF P o F o urth ye a r o f Sma ll ZRE C pro g ra m will c o mme nc e a fte r PURA de c isio n a ppro ving Ye a r 4 Me dium ZRE C c o ntra c ts & Ye a r 4 Sma ll ZRE C ra te s • Ope n to c usto me rs a nd de ve lo pe rs • Pro je c ts will b e se le c te d, a nd utilitie s will e nte r into 15 ye a r c o ntra c ts to purc ha se the ZRE Cs a nd L RE Cs fro m se le c te d pro je c ts • K e y Pro g ra m Do c ume nts: o RF P, Sta nda rd Co ntra c t, So lic ita tio n Pla n, PURA De c isio n – Do c ke t 11-12-06, Que stio n a nd Answe r Do c ume nt (upda te d pe rio dic a lly) 8
Year 4 RFP Schedule A CTION I TEM D ATE R ELEASE OF RFP A PRIL 30, 2015 B IDDERS C ONFERENCE – W EBINAR O NLY M AY 15, 2015 D EADLINE FOR S UBMISSION OF Q UESTIONS M AY 29, 2015 B ID F ORMS D UE J UNE 18, 2015 BY 1:00 P . M . (E ASTERN P REVAILING T IME “EPT”), AT WHICH TIME THE P RICING SHALL BECOME FIRM , IRREVOCABLE AND BINDING . S ELECTION AND N OTIFICATION OF W INNING B IDDERS O N OR ABOUT J ULY 24, 2015 S TANDARD C ONTRACTS E XECUTION A FTER S ELECTION AND N OTIFICATION OF W INNING B IDDERS . B IDDERS WILL HAVE TO RETURN PARTIALLY EXECUTED CONTRACTS BY THE DATE ESTABLISHED BY THE C OMPANIES WHICH IS EXPECTED TO BE APPROXIMATELY 10 BUSINESS DAYS . S TANDARD C ONTRACT ( S ) F ILED WITH PURA F OLLOWING SELECTION OF WINNING B IDDER ( S ) AND EXECUTION OF S TANDARD C ONTRACTS DURING EACH R OUND . C OMMENCEMENT OF S ERVICE I N ACCORDANCE WITH S TANDARD C ONTRACTS 9
Key Changes for Year 4 RFP • ZRE C pric e c a p = $281.52 • So la r Ca pa c ity F a c to rs F ixe d T ilt o Sing le Axis o Dua l Axis o • F o r E ve rso urc e : Yo u ma y no lo ng e r e dit a Bid a fte r sub mitta l 10
LREC & ZREC Eligibility • L RE Cs o No la rg e r tha n 2,000 kW o Must ha ve lo w e missio n • <0.07 lb s/ MWh No x; <0.10 lb s/ MWh CO; 0.02 lb s/ MWh VOCs, 1 g ra in pe r 100 sta nda rd c ub ic fe e t o Ma y inc lude fue l c e lls a nd o the r lo w e missio n Cla ss I re so urc e s, a s we ll a s a ll ze ro e missio n Cla ss I re so urc e s • ZRE Cs o No la rg e tha n 1,000 kW o Must ha ve ze ro e missio ns o Ma y inc lude so la r, hydro a nd wind 11
Quantity & Value of RECs T he c o ntra c t pric e o f RE Cs fro m Ze ro E missio n units is c a ppe d a t $302.71/ RE C • E xa mple 1: 200 kW So la r Syste m ~ 311 RE Cs/ ye a r o Annua l Pa yme nt ~ $46,650 • $150/ RE C x 311 RE Cs/ ye a r ~$46,650 o T o ta l Pa yme nt o ve r 15 ye a rs ~ $699,750 T he c o ntra c t pric e o f RE Cs fro m L o w E missio n units is c a ppe d a t $200/ RE C • E xa mple 2: 400 kW F ue l Ce ll ~ 3,312 RE Cs/ ye a r o Annua l Pa yme nt ~ $264,960 • $80/ RE C x 3,312 ~ $264,960 • T o ta l Pa yme nt o ve r 15 ye a rs ~ $4.0M E xa mple s sho w sa mple RE C pric e s. T he ma rke t will se t a c tua l RE C pric e s. 12
Instructions for Bid Submission and Contract Execution/Management L a ura Stilwe ll, E ve rso urc e De na e Co rc o ra n, E ve rso urc e 13
Step 1 How to Bid in the Year 4 RFP 14
Bid Process • Co mple te & Sub mit Bid F o rm Online F o r E ve rso urc e : www.e ve rso urc e .c o m, c lic k o n “Co mpe titive So lic ita tio n fo r o L RE Cs & L a rg e / Me d ium ZRE Cs”, the n c lic k link to Sub mit L RE C/ ZRE C Bid F o r UI: www.uine t.c o m/ po we rpro c ure me nt, c lic k o n RF P fo r L RE Cs a nd ZRE Cs o (April 24, 2014) • Ce rtific a tio ns, Affida vits a nd Disc lo sure s Bid Ce rtific a tio n F o rm – 4 pa g e s inc lud ing a ffid a vit (ma nd a to ry) o L RE C/ ZRE C CT L ic e nse d Pro fe ssio na l E ng ine e r (PE ) Ce rtific a tio n (if a pplic a b le ) o Pe nd ing CT Gre e n Ba nk Gra nt a nd / o r Re b a te Disc lo sure Sta te me nt o CT Ma nufa c ture d , Re se a rc he d o r De ve lo pe d Affid a vits o • T he Co mpa nie s o nline Bidding syste ms will a c kno wle dg e re c e ipt o f Bid a nd pro vide yo u with a n individua l Bid I D. 15
Eversource Bid Form • F o rm is fille d o ut o nline • Co nta ins info rma tio n ne e de d fo r: Sub missio n ve rific a tio n o Co mple tio n o f Sta nda rd Co ntra c t o • Additio na l fo rm(s) (i.e . Ce rtific a tio ns, Affida vits, a nd/ o r Disc lo sure s a s a pplic a b le ) will b e re q uire d to b e sub mitte d a s pa rt o f the b id pro c e ss • Do ub le c he c k a nd triple c he c k to a vo id e rro rs whic h ma y inva lida te the Bid F o rm 16
UI Bid Form • Online Bid F o rm tha t yo u will fill o ut a nd sub mit e le c tro nic a lly • Additio na l fo rm(s) (i.e . Ce rtific a tio ns, Affida vits, a nd/ o r Disc lo sure s a s a pplic a b le ) will b e re q uire d to b e sub mitte d via e ma il in a dditio n to the a pplic a tio n Sub mitte d to lre c .zre c @ uine t.c o m o Use r a ssig ne d Applic a tio n I D numb e rs in fo rms o • Do ub le c he c k a nd triple c he c k to a vo id e rro rs whic h ma y inva lida te the Bid F o rm 17
Bid Certification Form • 4 Pa g e Bid Ce rtific a tio n F o rm Pa g e 1: I nstruc tio ns o Pa g e 2: Bidde r sig na ture – Bidde r is de fine d a s the individua l o r b usine ss o sub mitting a pro po sa l (“Bid”) Pa g e 3: Co ntra c t Co unte rpa rty sig na ture – Co ntra c t Co unte rpa rty is o de fine d a s the le g a l e ntity de siring to e nte r into a Sta nda rd Co ntra c t Pa g e 4: Owne r o f the Pro je c t Site ’ s Sig na ture – Owne r o f the pro je c t site is o de fine d a s the le g a l o wne r o f the pro je c t site (No ta rize d a ffida vit) 18
Affidavits for CT M/R/D Generation Technologies • T wo a ffida vits re q uire d (if se e king M/ R/ D de sig na tio n): o Bidde r a ffida vit tha t pro je c t use s CT Ma nufa c ture d, Re se a rc he d o r De ve lo pe d Ge ne ra tio n T e c hno lo g ie s • Must c o nstitute no le ss tha n 50% o f the to ta l va lue o f Ge ne ra tio n T e c hno lo g y to b e use d b y its’ pro je c t. o T e c hno lo g y supplie r’ s a ffida vit tha t it supplie s CT Ma nufa c ture d, Re se a rc he d o r De ve lo pe d Ge ne ra tio n T e c hno lo g ie s o Ame nde d R & D de finitio n in RF P 19
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