Electric industry restructuring has ushered in fundamental changes in the pricing and procurement of wholesale power supply, including increased reliance on competitive solicitations that encompass sophisticated physical and financial products. These products are designed to meet resource adequacy objectives, renewable portfolio goals, as well as to hedge against uncertain commodity prices. Robust, competitive results are predicated on bidders' confidence in the integrity of the procurement process.

LAI is a national leader in the provision of procurement oversight assistance to ensure that state commissions and utilities can bank on the objectivity, fairness and transparency of the procurement process. We have established a track record of success in facilitating solicitations for short, intermediate, and long-term products that meet resource adequacy, environmental and financial objectives. We work with clients to define appropriate physical and financial products – dispatchable energy, firm on-peak and around-the-clock energy blocks, monthly and annual capacity, heat rate call options, and financial swaps. On behalf of state entities, LAI helps design the auction process in accord with best industry practice, including the establishment of credit and collateral requirements. In a primary or oversight capacity, we have been responsible for website security and administration to safeguard the integrity of the procurement process. We testify to the fairness and efficiency of the solicitation results.

LAI has extensive transactional experience in all areas that are integral to the procurement process. On behalf of state regulatory commissions, utilities, or end users, we have conducted successful competitive solicitations for energy, capacity, ancillary services, and renewable energy credits (RECs). LAI has structured innovative selection criteria for in-state versus out-of-state RECs and to rank preferred renewable technologies. We have also monitored electric utilities' procurement of power for retail customers on behalf of utilities and state commissions. From coast to coast, our procurement experience has resulted in technical innovation and informed decision making to support conventional, renewable, and financial products in strict accord with standards of professional excellence.

Our competitive procurement advisory services include:

	Auction design and product definition
	Procurement administration and oversight
	Supply portfolio optimization
	Management of bidder communications
	Document control and website security
	Contract negotiation support
	Optimal selection of inter-temporal bids
	Credit standards and collateral requirements
	Benchmark price development
	Inter-market regulatory liaison