Competitive bidding procedure

(a) The purpose of the competitive bidding process is to invite competition, guard against favoritism, improvidence, extravagance, fraud and corruption, and secure a reliable electricity supply at the lowest available price for default and back-up service customers in the state. (b) Any competitive bidding proceeding administered pursuant to subsection (b) or (c) of section 16-244c of the Connecticut General Statutes or section 16-244c-2 of the Regulations of Connecticut State Agencies shall be conducted in accordance with Sections 16-244c-1 to 16-244c-11, inclusive, of the Regulations of Connecticut State Agencies. (c) For each competitive bidding proceeding, the department shall: (1) Determine whether one or more bidders shall be chosen to provide default or back-up service or both; (2) Determine whether the chosen bidder or bidders shall provide electric generation services to one or more electric distribution companies in the state; (3) Appoint or designate an auction agent to administer the bidding proceeding; and (4) Determine the winner selection criteria, which may include but shall not be limited to the following: (A) A comparison of competing bids in terms of total net present value of the cost of service for the bid period; (B) A year-to-year comparison of the cumulative annual present value of the cost of service of the competing bids; (C) A risk analysis of competing bids in relation to price and load forecast uncertainties; and (D) A comparison of the competing bids in terms of renewable energy resources or portfolios.