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PUC reports $44 million winning bid for four combustion turbines; city to receive $10 million under state implementation agreement
Summary
The PUC said a public auction sold four combustion turbines to Energy Parts Solutions for a $44 million bulk bid; after commissions and expenses the estimated sale proceeds are roughly $43 million, with $10 million earmarked to the City General Fund and the State receiving approximately $32 million under the implementation agreement.
Barbara Hale, Assistant General Manager for Power, reported that the PUC conducted a public auction of four combustion turbines on March 8 and that Energy Parts Solutions submitted the stocking‑horse offer of $11 million per unit (bulk winning bid $44 million). Hale said three bidders qualified and that the sale proceeds are subject to marketing agent…
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