Bradley Lake Hydro Project Special Audit (IRFP)

The Alaska Energy Authority (AEA) is issuing an Invitation for Request for Proposals (IRFP) to procure special-purpose financial statement audit services for the Bradley Lake Hydroelectric Project, Alaska's largest hydroelectric facility with a 120 MW capacity located approximately 27 miles from Homer. The Bradley Project Management Committee (BPMC), composed of representatives from AEA, Chugach Electric Association, Golden Valley Electric Association, the City of Seward Electric System, Homer Electric Association, and Matanuska Electric Association, manages the project's operations. The selected contractor shall perform annual audits of the operating and revenue funds in accordance with the Alaska Energy Authority Power Revenue Bond Resolution requirements, with audit fieldwork to be completed during the first week of November each year and final audit reports due the first week of December. Deliverables include seven printed copies of the audit report plus an electronic version submitted to the state. The contract will commence September 2026 and terminate December 31, 2026, with two optional one-year renewal periods, potentially extending through a three-year term beginning with the fiscal year ending June 30, 2026. Proposals are due May 29, 2026, by 2:00 p.m. Alaska Time. Evaluation criteria include demonstrated comprehension of required services and proposed performance strategy, relevant experience and credentials of proposed personnel, reasonableness of the proposed schedule, and price, and all work must be performed within the United States.

No set-aside designations for disadvantaged enterprises or Alaska bidder preferences apply to this procurement. The contractor must maintain professional liability insurance with a minimum coverage of $300,000 to $500,000. The estimated contract value ranges from less than $50,000 to $150,000–$200,000, with state funding as the identified source. Pricing is negotiable, with the selected contractor required to submit a price estimate within one business day of the contracting agency's request; the contract may be structured as fixed price if negotiable or as cost reimbursement if not. No price estimate is required with the initial proposal submission. This procurement represents an opportunity for qualified audit firms with experience in hydroelectric project financial statements and municipal utility auditing.