The U.S. Department of Energy is seeking a consultant to assist in developing investment strategies for the federal fund that would pay for licensing, construction, and operation of a disposal facility for the nation’s nuclear waste.
The agency on July 9 issued a request for quotes for consulting services to the Office of Standard Contract Management within DOE’s Office of the General Counsel, “regarding strategy and investments in the Nuclear Waste Fund.” The deadline for responses is 3 p.m. Eastern time on July 23 via FedConnect, encompassing quote documents, a technical proposal, and a price proposal.
“The successful contractor shall provide support to the DOE Investment Manager with the purpose of assisting the manager in making appropriate investments for the Fund,” according to the Energy Department notice. “The DOE regularly invests fee income and portfolio interest and maturing securities. The investment manager, a U.S. government employee, selects appropriate investments for this available cash. The DOE is restricted to investments in U.S. Treasury Securities. No other asset allocation (e.g. equities, corporate bonds), nor are derivatives (e.g. options) is permitted as part of any investment strategy.”
The contract will be limited to small businesses. In descending order of importance, the DOE award will be based on: the small-business designation of the provider; key personnel; technical approach and understanding; corporate experience; availability of resources; past performance; and price.
The fund was established through the 1982 Nuclear Waste Policy Act. From 1983 through fiscal 2018, the account earned nearly $50.6 billion from three funding streams: receipts from commercial nuclear power operators; receipts from defense nuclear generators; and interest income, gains, and other revenue. Of that, $11.4 billion has been spent. The remaining balance as of the end of fiscal 2018, on Sept. 30 of last year, was $39.2 billion.
