PSE 2026 Voluntary Utility-Scale RFP

Puget Sound Energy (PSE) issues this voluntary request for proposals seeking bids from qualified parties to supply Clean Energy Transformation Act (CETA) compliant clean energy and peak capacity resources greater than 5 MW. PSE's current estimates indicate deficits of 1,556 MW of winter peak capacity and 59 MW of summer peak capacity in 2031, and needs to acquire 2.9 million MWh of CETA-compliant energy to serve 80% of customer requirements with clean energy in 2030. The RFP considers any utility-scale electric resource or energy storage resource that can meet all or part of PSE's resource needs, consistent with Washington state's CETA requirements, and must have a commercial operation date of January 1, 2032 or earlier. Qualifying facilities with nameplate capacities of less than 5 MW may sell power under tariff Schedule 91.

Key dates include: PSE participating resource proposals due March 18, 2026 at 11:59 p.m. PT; all other bids due April 10, 2026 at 11:59 p.m. PT. Phase 1 screening and selection occurs March-May 2026; Phase 2 optimization analysis and due diligence occurs June-July 2026; negotiations and contract executions continue through Q3-Q4 2026. A Bidders' conference will be held in Q1 2026 (date to be announced). The compliance report will be posted May 8, 2026. PSE will file a final compliance report with the Washington Utilities and Transportation Commission upon conclusion.

Eligible resources include CETA-compliant energy from all commercially proven non-emitting electric generation and renewable resources via PPA or ownership; baseload generation via unit contingent, shaped, or blocked PPA and ownership; capacity products including call options, dispatchable resources, and storage via tolling, PPA, and ownership; and hybrid resources combining renewable plus storage. Bidders must demonstrate current ownership or legally binding rights to develop or market projects, achievable plans to secure long-term firm transmission at specific points of delivery, and financial backing and experience to support projects. Energy delivery requires firm transmission service (NERC Transmission Service Reservation Priority 6 or 7-F) to PSE's balancing authority area or specified points of delivery. All proposals must comply with Washington's Emissions Performance Standards and all applicable laws and regulations.

Proposals are evaluated based on quantitative metrics (levelized delivered cost of energy/capacity) and qualitative factors (50% weight each in Phase 1). Phase 1 includes preliminary qualitative screening to verify minimum criteria and identify non-conforming elements or fatal flaws. Phase 2 performs portfolio optimization analysis to identify the lowest cost portfolio meeting renewable energy and capacity needs, with due diligence on qualitative risks. An independent evaluator (Bates White Economic Consulting) ensures fair and transparent process. PSE may negotiate with shortlisted bidders and has no obligation to enter definitive agreements with any bidder.