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Request for Proposals to Provide a Medium-Term Supply of Energy to Serve Governmental Customers in Southeastern New York - July 29, 2009


Questions and Answers

Q:  Will NYPA accept bids for energy bundled with UCAP from sources within New York City?

A:  NYPA will accept UCAP from In-City as well as Rest of State ("ROS"). Bidders are advised that NYPA's interest in such UCAP is to satisfy its ROS requirements.

Q:  Will NYPA accept bids for energy from physical resources that are outside the New York Control Area ("NYCA")?

A:  The base-load resources may be physically located inside or outside the New York Control Area ("NYCA") boundary.  In all events, as provided in Section II, C. of the RFP, "Bidders shall be responsible for delivering the requested energy to a bus in the NYCA to be mutually agreed with NYPA. Bidders shall be responsible for all transmission charges and transmission losses, including the NYISO Transmission Usage Charge, incurred to reach the specified delivery point."

Q:  Will NYPA accept a separate Credit Support Annex under the ISDA for credit purposes? 

A:  Use of a Credit Support Annex ("CSA") is acceptable to NYPA providing the credit support terms and provisions set forth in the RFP's ISDA Master Agreement are adhered to and/or incorporated into the CSA.

Q:  In the context of the ISDA, is the amount of the Semi-Annual LC that NYPA will be required to post upon a downgrade event equal to the six-month forward MTM as calculated in Exhibit 1 or is it equal to the full remaining tenor MTM computed as detailed in Exhibit 1?

A:  In the event of a downgrade event, as "Downgrade Event" is defined in the proposed ISDA Master Agreement, NYPA would be required to post a MTM equal to the full remaining tenor MTM as detailed in Exhibit 1.