A. Only suppliers meeting strict criteria will be considered. Suppliers will need to:
1. Be certified by the Illinois commerce commission.
2. Be registered with ComEd to do business in their service territory. Both the certification and registration ensure that suppliers possess the managerial, technical, and financial competence to perform the services they offer.
3. Agree to hold harmless the village from any financial obligations arising from the program.
4. Agree to notify the village and negotiate with the village at least sixty (60) days in advance of attempting to terminate the agreement for any reasons other than: a) the scheduled end date or b) force majeure.
5. Demonstrate its creditworthiness by possessing an investment grade long term bond rating from at least two (2) major rating agencies.
B. Should the supplier be unable to demonstrate its creditworthiness, the supplier will be required to provide:
1. A letter of credit; or
2. A parental guarantee from a company that is deemed creditworthy; or
3. A surety bond.
C. Details of the credit type and amount will be subject to negotiation.
D. Pursuant to 20 Illinois Compiled Statutes 3855/1-92, supplier shall:
1. Provide for universal access to all applicable residential customers and equitable treatment of applicable residential customers.
2. Describe demand management and energy efficiency services to be provided to each class of customers.
3. Meet any requirements established by law concerning aggregated service offered pursuant to 20 Illinois Compiled Statutes 3855/1-92. (Ord. 2013-O-07)