Linden VFT TSR Auction

In April 2015, Linden VFT, LLC (an affiliate of General Electric Company) will auction 315 MWs of transmission scheduling rights (“TSRs”) pertaining to its Linden Variable Frequency Transformer Project (“Linden VFT”). The TSRs will be sold with two separate contract starting dates. Two 25-MW blocks and one 40 MW block will be sold for a term beginning June 1, 2016, and an additional nine 25-MW blocks will be sold for a term beginning June 1, 2018.

The term length of the TSR purchase agreements will be specified by the bidder from the available options. For the TSR agreements starting on June 1, 2016, the term length options are from two to five years. For the TSR agreements starting on June 1, 2018, the term length options are from one to three years.

The Linden VFT TSRs allow for the withdrawal (or injection) of power at the Linden VFT switching station near Linden, NJ and the injection (or withdrawal) of power near the Goethals Substation in the Borough of Staten Island, New York City. As a result, the TSRs can be used to sell energy and capacity sourced in PJM into New York ISO (“NYISO”), as well as energy and capacity sourced in NYISO into PJM.

The Brattle Group will serve as the Independent Auction Manager (“IAM”) for this open season auction process.

This website has been established by the IAM to host materials and facilitate communication related to this auction. Since it is the primary means of direct communication between the IAM and potentially interested bidders, it is essential that potentially interested bidders register through the Registration section of this website. Interested bidders should also execute a Confidentiality Agreement in order to gain access to confidential documents necessary for participation in the process.

Prospective bidders also should review this Information Memorandum. This document provides an overview of the open season process and additional information regarding the VFT technology and the potential economic benefits of the TSRs.

This website is divided into the following sections:

  • Home: where periodic announcements from the IAM will be posted;
  • Auction FAQ: contains answers to questions submitted to the IAM;
  • Ask the Manager: prospective bidders should submit any questions they have to the IAM through this page;
  • Calendar: a list of important auction dates;
  • Info Session: provides details regarding the scheduled public information session;
  • Documents & Data: contains links to several important documents.  Interested bidders can access certain confidential documents by completing and submitting a signed confidentiality agreement (see the Public Documents section).
  • Document Submittal: a template through which registered prospective bidders can submit auction materials to the IAM;
  • Registration: a template that interested bidders may complete to receive email announcements about the auction

This website contains links to websites operated by third parties, which are provided for your information and convenience only. Linden VFT, LLC and The Brattle Group make no warranty or representation regarding any linked websites or any information appearing thereon, and hereby disclaim liability for any information, materials, products or services posted or offered at any such site. If you decide to visit any linked site, you do so at your own risk. You agree that neither Linden VFT, LLC nor The Brattle Group, nor their respective affiliates, business partners or service providers shall have any liability whatsoever to you for any such third party material, data or information.

In using this web site, you agree not to disrupt or interfere with the security of, or otherwise abuse, the site, not to use or attempt to use or access another person’s account on the site, and not to attempt to obtain unauthorized access to the site or portions of the site which are restricted from general access. Neither Linden VFT, LLC nor The Brattle Group makes any warranty that your use of this site or the materials will be uninterrupted, timely, secure, or error free, or that defects, if any, will be corrected, and Linden VFT, LLC and The Brattle Group assume no responsibility for any damages that may be suffered by you, including, but not limited to, losses from delays, nondeliveries of content or any communications, errors, system down time, network or system outages, or service interruptions whether caused by the negligence of Linden VFT, LLC, The Brattle Group or otherwise.