Maryland Directs Collaborative To Address SOS Bidding Financial Qualification, Submission/Award Times

The Maryland PSC has directed a collaborative to address two issues raised by stakeholders during an annual review of the SOS procurement process: 1) the timing of bids and bid awards on the bid days, and 2) bidder eligibility requirement as it relates to credit rating/guaranty requirement terms or possible pre-bid letter of credit or cash collateral security.

EnergyChoiceMatters.com previously reported the request of BTG Pactual Commodities (US) LLC that Maryland allow the use of a pre-bid letter of credit or cash collateral similar to other states for financial qualification, in addition to a credit rating or parental guaranty

Certain bidders have also expressed differing opinions on whether the submission and award time for SOS bids should be moved forward, with TransCanada Power Marketing favoring a 10 a.m. submission deadline and 1:00 p.m. award notification, and Exelon Generation, LLC favoring the current schedule which includes submission deadlines between 3:00 p.m. to 4:30 p.m. and an 8:30 p.m. notification