Fuel Price Hedge Consulting

Washington State Department of Transportation (WSDOT) and Washington State Ferries (WSF) are seeking a Fuel Hedging Program Advisor through a competitive Request for Qualifications and Quotations (RFQQ-2025 0523) to provide consulting services for managing fuel price volatility across their ferry system. The solicitation targets a qualified independent representative who will develop and execute a comprehensive fuel hedging strategy for WSF's twenty-two ferry vessels operating across ten routes in Puget Sound, San Juan Islands, and Vancouver Island. Key deliverables include generating monthly reports, monitoring energy markets, recommending execution strategies for fuel hedging, attending quarterly Fuel Hedging Oversight Committee meetings, and being available to enter fuel hedge contracts on behalf of WSDOT/WSF. The primary objectives are to reduce fuel price exposure and achieve lower long-term fuel costs, with the system currently consuming approximately 19 million gallons of fuel annually with a budget around $35 million. Evaluation criteria will include non-cost factors (55 points), cost factors (16 points), and additional points for being a Washington Small Business (3 points), Certified Veteran-Owned Business (3 points), and compliance with Executive Order 18-03 (2 points). The solicitation was posted on May 23, 2025, with a pre-bid conference on June 2, 2025, and proposals due by July 8, 2025, with an anticipated contract award date of August 12, 2025.

The procurement encourages participation from diverse business types, with voluntary numerical goals including 10% Minority-Owned Businesses, 6% Women-Owned Businesses, 5% Veteran-Owned Businesses, and 5% Washington Small Businesses. Bidders must be certified through specific state agencies like the Washington State Office of Minority and Women's Business Enterprises (OMWBE) or the Washington State Department of Veterans Affairs (WDVA) to qualify for these designations. The contract has a maximum cost constraint, with proposals exceeding $130,000 being deemed non-responsive, and historically similar contracts having annual total sales of approximately $55,000. The initial contract term is two years, with potential extensions for up to two additional two-year terms based on performance-based goals. Successful bidders must maintain comprehensive insurance coverages, including commercial general liability, cyber liability, workers' compensation, and professional liability. The contract will provide compensation up to a maximum amount (specific dollar amount redacted), with economic adjustments allowed beginning twelve months after the effective date based on U.S. Department of Labor Bureau of Labor Statistics indices.