Peninsula Clean Energy RFP for 2021-2023 Hedge Offers
Peninsula Clean Energy Authority is soliciting offers for shaped and block energy (volumes and shape defined in Exhibit A of the attached Bid Workbook) for calendar years 2021 through 2023. Indicative pricing is due by 9 am PPT on December 11th and final pricing is due by 9 am PPT on December 15th with a three hour hold period until 12pm PPT. For each calendar year, Peninsula Clean Energy may procure any combination of either shaped and / or block products to fulfill its open position and targets.
The shaped and block hedge products that Peninsula Clean Energy is requesting offers for are further defined in the following manner:
- Shaped Energy: The selected supplier shall be responsible for electric energy delivery to either the NP15 EZ Gen Hub or DLAP_PGAE-APND (“Delivery Point”) through the scheduling of a CAISO day-ahead Inter-SC Trade (“IST”). Proposers should shape energy deliveries to match the projected hourly load profile of Peninsula Clean Energy (monthly weekday and weekend profiles can be found in Exhibit A within the attached Bid Workbook).
- Block Energy: The selected supplier shall be responsible for electric energy delivery to either the NP15 EZ Gen Hub or DLAP_PGAE-APND (“Delivery Point”) through the scheduling of a CAISO day-ahead Inter-SC Trade (“IST”). Please complete Exhibit B (NP-15 Delivery Point) and Exhibit C (PG&E DLAP Delivery Point) in the attached Bid Workbook with your offer for block energy. Peninsula Clean Energy is soliciting offers for the following four block products:
- ATC Block (7×24)
- Evening Block HE 17 – 22
- On-peak Block (HE 7-22, Monday – Saturday)
- Off-peak Block (HE1-6 & HE 23-24, Monday – Saturday, and ATC Sundays)
For both options, proposers must describe whether they intend to source the requested shaped energy from: 1) generating units owned by the proposer; 2) generating units controlled under contract (and identified as specified generating sources to Peninsula Clean Energy); and/or 3) unspecified/market sources.
As described above, the attached Bid Workbook provides the annual volumes as well as the monthly shaped energy volumes (weekend and weekday).
The other commercial terms of the deal that should be factored into offers are as follows:
- Delivery Point:
- DLAP_PGAE-APND and TH_NP15_GEN-APND as defined by the CAISO (Peninsula Clean Energy requests pricing at both locations).
- Monthly pricing in $/MWh;
- Peninsula Clean Energy plans to transact calendar year strips for 2021 – 2023.
- Each year (e.g. 2021, 2022 and 2023) must be priced independently. Peninsula Clean Energy may not accept offerings that do not price calendar years independently.
- Volumes: Volumes are defined in the attached Bid Workbook
- Delivery Term: 2021 – 2023. Offers must have a minimum delivery term of one calendar year. As further noted above, calendar years will be evaluated independently. Offers that require delivery terms longer than one calendar year will not be accepted.
- Master Agreement: The EEI is Peninsula Clean Energy’s preferred form of Master Agreement. If you do not currently have an EEI enabling agreement in place with Peninsula Clean Energy, please email email@example.com and firstname.lastname@example.org as soon as possible and we will send our standard cover sheet.
- Confirmation Agreement: Attached is Peninsula Clean Energy’s standard form of confirmation for the shaped and block energy transactions. Please provide redline with final bids on December 15, 2020 at 9:00 AM PT.
- Buyer Credit Support: Peninsula Clean Energy will rely on its investment grade credit rating for this transaction.
- Preferred Payment Terms: Invoice due to Peninsula Clean Energy by the 10th of the month after the delivery and payment due to the supplier by the 25th of the month following the invoice delivery.
Indicative pricing is due by 9 am PPT on December 15th along with any edits to Peninsula Clean Energy’s attached form of confirmation. Peninsula Clean Energy will then request final and binding pricing by 9am PPT on December 15th with a three hour hold period until 12pm PPT.
Please send your offer to the following email addresses:
Thank you for participating in Peninsula Clean Energy’s supply solicitation and please reach out to Chelsea Keys, Peninsula Clean Energy’s Power Resources Manager, throughout the process with any questions that you may have.
Bid Workbook – PCE 2021-2023 Shaped and Block Energy [CounterpartyName] v2
PCE Proforma_EEI Hedge Confirm_12.4.20