To provide the texas energy fund financial management services

The Public Utility Commission of Texas (PUCT) is seeking a contractor to provide comprehensive financial management services for the Texas Energy Fund (TEF), established by Senate Bill 2627. The selected vendor will conduct fiduciary oversight of enterprise-level and program-level transactions across four TEF programs: In-ERCOT Generation Loan Program, Completion Bonus Grant Program, Outside ERCOT Grant Program, and Texas Backup Power Package Program. Proposers must demonstrate a minimum of ten years of experience in comprehensive financial services, with compensation to be proposed as either a firm fixed price or hourly rate. The evaluation criteria will be weighted as follows: Proposal Substance (40%), Competence and Knowledge (40%), and Proposed Compensation (20%). Key dates include proposal submissions due by February 24, 2025, at 10:00 a.m. Central Time, with post-proposal interviews scheduled for the week of March 3, 2025. Staff recommendation for selection is due by March 12, 2025, with selection approval targeted for March 14, 2025, and a contract start date of April 1, 2025. The initial contract term is four years, with options for up to two additional two-year extensions.

The PUCT encourages participation from Historically Underutilized Businesses (HUBs) and requires a HUB Subcontracting Plan for proposals exceeding $100,000. Texas-based vendors will receive preference if all other factors are equal. The contractor must maintain specific insurance coverages, including commercial liability insurance ($1,000,000 per occurrence, $2,000,000 aggregate), automobile liability ($500,000), workers' compensation (statutory limits), and cyber incident coverage. Current infrastructure includes Salesforce-based tools and secure systems from the Comptroller and Texas Treasury Safekeeping Trust Company. Existing vendors supporting the TEF program include Patrick Engineering, Inc. and Holland & Knight LLP. The contractor will be expected to develop their own technology systems while having access to existing platforms during onboarding. The current TEF administrator is explicitly ineligible to bid on this contract. The contract has a budget cap of $5 million for its full term, with payments to be initiated and approved by PUCT and processed through the Texas Treasury Safekeeping Trust Company.