2008 Fixed for Floating Swap

Pacific Gas and Electric Company (“PG&E”) is seeking offers from Floating Price Payers (“Bidders” or “Participants”) pursuant to which PG&E would enter into a Financial Fixed for Floating Electricity Swap for the period October 1, 2008 through calendar year 2014, or for one or more portions of such period as described below (the “Products”). Through this Request for Offers (“RFO”), PG&E is seeking products to manage a portion of the electric portfolio’s exposure to floating power prices. PG&E is seeking Products starting in October 1, 2008 through December 31, 2014.

PG&E is willing to consider Offers from counterparties with which PG&E currently has an International Swap Dealers Association (ISDA) agreement . The terms and conditions sought by PG&E will be set forth in a Confirmation Agreement to be provided to participants who submit a Notice of Intent by the deadline below. For those Bidders who already have an ISDA Master Agreement with PG&E (each a “Master Agreement” for purposes of this RFO), such Master Agreement shall govern the Transaction between the Parties entered into pursuant to this RFO, and the Confirmation, when fully executed, shall become a Confirmation under the applicable Master Agreement.

Schedule and Procedure for RFO

Date/TimeEvent
June 3, 2008 Issue Request for Offers
June 6, 2008 - 1:00 PM (PPT)Deadline for Bidders to submit Notice of Intent to Participate
June 9, 2008 PG&E distributes Confirmation Agreement to Bidders who have submitted the NOI.
Trade Date:
RFO Execution Start: 9:00 AM (PPT)
Some date between June 30 and July 31, 2008
PG&E executes RFO and distriubtes, via email, the Final Confirmation and bid instructions to Participants.
Trade Date:
Participant Offer Packages Due: 10:00 AM (PPT)
Some date between June 30 and July 31, 2008
Deadline for Participating Bidders to submit Offers, i.e., signed Confirmations and XML data files.

2008 Fixed for Floating Swap Related Information

Information about the 2008 Fixed for Floating Swap:

Contact Us

For information or questions about this PG&E 2008 Fixed for Floating SwapE-Mail to: midtermswap@pge.com