Energy Trading Risk Management Web-Based Subscription Service

The State of California is seeking a vendor to provide a web-based Energy Trading Risk Management (ETRM) subscription service to support risk control and reporting related to natural gas and power transactions. The selected subscription service must maintain a comprehensive ETRM system capable of performing specific risk management functions for both physical and financial natural gas hedges, as well as forward power transactions.

Key requirements include an integrated front, middle, and back-office system with multi-user deal capture, trade ticket creation, portfolio assignment, independent market data sourcing, forward valuation, and robust monitoring and reporting tools. The system should support real-time position reporting, mark-to-market analysis, profit and loss statements, trade limits, audits, settlements, price volatility, value-at-risk, cash-flow-at-risk, and exposure computations, both at the portfolio and overall level. In addition, the platform must facilitate automated monthly settlements, invoice generation by counterparty, and provide detailed settlement reports.

Administrative features are to include user access management, counterparty data management, credit limits, and commodity attribute configuration. All inquiries from prospective vendors must be submitted by February 19, 2026. The contract for this service will span a three-year period.