Request for Proposals (RFP) for Energy Prepayment Transaction Underwriter
San Diego Community Power seeks an underwriter to structure an energy prepayment transaction across its existing Power Purchase Agreements, targeting cost savings for a 960,000-customer utility serving San Diego County and six municipalities with $891 million in net operating revenues in FY 2022-23. SDCP will select a short list of firms for interviews based on proposals.
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AI overview
San Diego Community Power (SDCP) is seeking an underwriter firm to structure an energy prepayment program for existing Power Purchase Agreements (PPAs). SDCP is the default electricity provider for the Cities of Chula Vista, Encinitas, Imperial Beach, La Mesa, National City, and San Diego and the County of San Diego. SDCP began service in 2021 and completed enrolling approximately 960,000 customer accounts in 2023. The prepayment transaction aims to achieve cost savings on existing PPAs. SDCP recorded an estimated $891.28 million in net operating revenues in FY 2022-23 and projects $1,292.5 million in net operating revenues in FY 2023-24. As of February 29, 2024, total SDCP cash reserves were $383.3 million and total available liquidity (including lines of credit) was $533.3 million. SDCP intends to use this solicitation to establish a short list of firms to invite for interviews.
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Proposal Document
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