Downstream Negotiation for Indexed REC Contracts

The IPA’s 2024 Long-Term Renewable Resources Procurement Plan outlined a process for exploring post-award REC delivery contract term changes for utility-scale wind and utility-scale solar projects. The IPA conducted a series of five workshops and implemented an Inflation Adjustment Mechanism and REC Quantity Adjustment Mechanism starting with the Summer 2025 procurement event.

• IREC Renegotiation Guidance (February 1, 2026)
• Compliance Filing (February 19, 2025)
  • Cover Letter    
• Request for Stakeholder Feedback - Draft Proposal for Adjusting the Indexed REC Procurement Process (January 17, 2025)
  
  • Comments (February 3, 2025)

• Announcement (May 23, 2024)
• Request for Stakeholder Feedback (June 7, 2024)
  • Comments (July 9, 2024)
  • Other Stakeholder Feedback

• Workshop 1: Pain Points for Developers (without the ability to negotiate post-award)
  • Date: July 29, 2024
  • Time: 12 p.m. - 2 p.m. CT
  • Attendees
  • Workshop Notes
  • Q & A
  • AGENDA

• Workshop 2: Contract Terms that Stakeholders Would Like To Be Negotiable Post-Award
  • Date: August 26, 2024
  • Time: 12 p.m. - 2 p.m. CT
  • Attendees
  • Workshop Notes
  • Recording
  • AGENDA

• Workshop 3: Comparing Other States’ Mechanisms for REC Contracts
  • Date: September 30, 2024
  • Time: 12 p.m. - 2 p.m. CT
  • Attendees
  • Workshop Notes
  • Q & A
  • Recording
  • Presentation
  • AGENDA

• Workshop 4: Post-Award Models Applicable to Illinois
  • Date: October 21, 2024
  • Time: 12 p.m. - 2 p.m. CT
  • Attendees
  • Workshop Notes
  • Recording
  • AGENDA

• Workshop 5: Proposed Solutions to Key Challenges
  • Date: December 2, 2024
  • Time: 1 p.m. - 3 p.m. CT
  • Attendees
  • Workshop Notes
  • Recording
  • AGENDA

Please email Chandrika.Mital@illinois.gov for more information.