Long Term Natural Gas Products Request for Offers
Gas RFO Products
SCE is issuing this Natural Gas Request for Offers (“Gas RFO”) for annual and 3rd quarter call options products, as described in the following table:
Gas RFO Products
| Product |
Commodity Reference Price |
Notional Quantity |
Contract Term & Effective Hedge Period |
| Term Options |
Start Date |
End Date |
Effective Hedge Period |
| Call Option |
SoCal Border |
Up to 600,000 MMBtu/month |
36 Months |
Nov. 11, 2011 |
Oct. 31, 2014 |
Annual
(All months) |
| Call Option |
SoCal Border |
Up to 600,000 MMBtu/month |
27 Months |
July 1, 2012 |
Sept. 30, 2014 |
3rd Quarter (July-Sept.) |
Gas RFO Schedule
Gas RFO Schedule
| Date and Time |
Description |
| Thursday, April 29, 2010 |
Launch
Natural Gas RFO Documents will be posted on www.sce.com/gasrfo. |
Wednesday, May 5, 2010
at 10:00 A.M. (PPT) |
Bidder Conference Call
Call-in number is (888) 829-8675. Conference Access ID is 1494034. A replay of the call will be available from May 6, 2010 to May 25, 2010 by calling (203) 369-1054. |
Thursday, May 6, 2010
by 5:00 P.M. (PPT) |
Required: Notice of Intent to Offer, Confidentiality Agreement, and Draft Materials
Respondent must submit to SCE, in electronic format, the following: (1) completed Notice of Intent to Offer (SCE-1), (2) draft Confidentiality Agreement (SCE-2), (3) draft ISDA Schedule (SCE-3), (4) draft Paragraph 13 of the ISDA Credit Support Annex (SCE-4), and (5) completed Call Option Clearing Information (SCE-5). |
Thursday, May 13, 2010
by 5:00 P.M. (PPT) |
Qualification Date
SCE must have on file the following: (1) fully executed Confidentiality Agreement, and (2) fully executed ISDA Agreement and Credit Support Annex (including Schedule and Paragraph 13). Hard copies of executed originals of the Confidentiality Agreement, and ISDA documents must be hand delivered by this deadline or sent via overnight mail for arrival no later than 12;00 P.M. PPT on Friday, May 14, 2010. Respondents who fail to submit these materials will be disqualified from participation in this RFO. |
Friday, May 14, 2010
by 5:00 P.M. (PPT) |
Notice of Qualification
SCE will send Notices of Qualification to all Qualified Respondents via email. |
Friday, May 21, 2010
by 5:00 P.M. (PPT) |
Strike Price Determination Date
SCE will determine the Call Option strike prices and send to all Qualified Respondents via email. |
Monday, May 24, 2010
by 9:00 A.M. (PPT) |
RFO Indicative Price and Final Volume Limits Date
All Qualified Respondents must provide to SCE their indicative price and Maximum Volume Limit for each product that they will be offering in the RFO close. In addition, SCE will conduct a connectivity test with all Qualified Respondents to ensure IM is functioning between the parties. |
Tuesday, May 25, 2010
at 8:00 A.M. (PPT) and 9:00 A.M. (PPT) |
RFO Closing and Final Award Selections
Only Qualified Respondents may participate in the RFO closing process. The 3rd quarter product closing process will begin at 8:00 AM and the annual product closing process will begin at 9:00 AM. SCE will select successful Offers and confirm the selection via recorded phone call. See Section B.5.3 and Attachment A for additional information. |
Tuesday, May 25, 2010
by COB NYMEX |
Clearing of Offers
Call Option award(s) will be submitted and cleared by NYMEX Clearport on the same day. See Section C for additional information. |
Please see Gas RFO Instuctions (PDF) for additional details. All references pertain to the Gas RFO Instructions.
Bidder's Conference Call
For those interested in bidding in response to SCE's Gas RFO, a conference call will be held on Wednesday, May 5, 2010 at 10:00 AM Pacific Prevailing Time to respond to questions concerning the Gas RFO.
Conference phone number: (888) 829-8675(U.S./Canada). The Conference Access ID number is 1494034.
Gas RFO Qualifications
In order to be eligible to participate, potential counterparties must have a fully executed ISDA Master Agreement (including the Schedule to the ISDA Master Agreement and the Paragraph 13 to the Credit Support Annex) and an appropriate Confidentiality Agreement in place with SCE by the Qualification Date, as indicated below.
Gas RFO Documents
Questions and Frequently Asked Questions
Questions about the Gas RFO requirements and process should be addressed to GasRFO@sce.com. Questions of a general nature will be posted on this website as appropriate. Frequently asked questions and answers about the Gas RFO will be posted as they arise on the FAQ page.
Contact
Should you have any questions regarding SCE’s enabling agreements, please email GasRFO@sce.com or contact Lisa Martin at (626) 302-1150 or Benny Wu at (626) 302-3230.