NorthWestern Energy Seeking New Electricity Contracts in Montana
BUTTE, Mont., May 14, 2013 /PRNewswire/ -- NorthWestern Corporation d/b/a NorthWestern Energy (NYSE: NWE) has issued a Request for Proposal seeking energy supply resources to serve Montana customers beginning in 2014.
NorthWestern Energy is seeking up to 100 megawatts (MW) of firm supply for the period of January 1, 2015 through December 31, 2017 at Mid-C or on NorthWestern's system and up to 300 MW of firm supply for the period of July 1, 2014 through December 31, 2014 on the NorthWestern system.
NorthWestern has been constantly readjusting its supply portfolio over the past few years to integrate market priced contracts with owned generation to provide a flexible and diverse mix of resources designed to provide lasting rate stability. According to NorthWestern Energy's Vice President of Energy Supply, John Hines, the recent RFP is a continuation of that strategy.
"This RFP is meant to address, in part, the roll-off of the existing seven-year contract with PPL Montana," explained Hines. "The terms of these new contracts are meant to serve as a bridge to a longer-term solution, which may include the construction of a new generation source or strategic acquisition of an existing source."
Hines anticipates that power supply costs resulting from this RFP are likely to be lower than what is currently in place today due to a more favorable market environment. However, he adds it makes sense to continue to explore owned options as market conditions are subject to change based on a number of factors often outside of the company's span of control.
The company has defined specific volume and terms for various products, which may be procured from one or more suppliers. This information is available by accessing the RFP document on NorthWestern Energy's website or by contacting the individual listed below. Draft confirmations are due May 22 with final bids due on May 30.
About NorthWestern Energy
NorthWestern Energy is one of the largest providers of electricity and natural gas in the Upper Midwest and Northwest, serving approximately 673,200 customers in Montana, South Dakota and Nebraska. More information on NorthWestern Energy is available on the Company's Web site at www.northwesternenergy.com.
SOURCE NorthWestern Corporation