Public Power

  • Power providers face many challenges in today's environment. As deregulation, fuel prices and environmental concerns make the economics of the industry more difficult, demand for power facilities continues to grow.

    How can municipal power providers build the required infrastructure, remain flexible enough to respond to future opportunities, but still maintain their competitive rates and healthy financial position? PFM's Public Power group helps many issuers answer this complex question by assisting municipal power providers in developing financial strategies to leverage their access to low-cost, tax-exempt financing.

    Partnering with clients’ internal finance staff, PFM's Public Power practice professionals help effectively manage the entire balance sheet, not just debt, in order to help keep billing rates as low as possible in the current market. Our experience from working with more than half of the 50 largest Public Power providers in the U.S. allows PFM to bring knowledge of the overall industry to bear on our clients’ behalf.  PFM’s Public Power professionals are an experienced and knowledgeable team with backgrounds in both municipal and agency finance and on Wall Street.

    We have participated in a wide range of transactions in the Public Power sector, including:

    • competitive new money financing
    • open market tender programs
    • negotiated advance refunding
    • direct private placement
    • renewable energy financing or fuel prepayment

    Most of all, PFM can provide advice and help in structuring and supporting your transaction. PFM has worked with public power clients nationwide to help them meet their unique financial goals.

    Additional Benefits of Using the PFM Group  

    While Public Financial Management, Inc. is generally focused on the debt side of the balance sheet and strategic planning, PFM Asset Management LLC (“PFMAM”), another of the PFM Group of companies, is focused on managing the assets of our public power clients.  PFMAM provides asset management and consulting relating to cash and short term assets, reserve and/or bond proceeds funds, along with retirement, nuclear decommission trust, or other multi-asset class portfolios.  In conjunction with our asset management services, PFMAM also has a team focused on providing arbitrage rebate and yield restriction calculation services for bond proceeds accounts along with helping clients to meet other IRS and regulatory mandates.

    Our extensive knowledge of both sides of the balance sheet allows us to identify asset management opportunities that can benefit our public power clients.  These opportunities may manifest themselves in improving investment policy structure and guidelines, improving asset/liability or cash flow matching for construction projects, adjusting asset allocations to better mitigate various risks, or using structured products and other non-traditional assets to build custom portfolios to meet specific client needs.  In any event, PFMAM is focused on providing for the wide array of asset management related needs for our public power clients.

    Whether your Public Power Finance needs are on the asset or the liability side of the balance sheet, the PFM Group of companies has the professionals and the expertise to assist you.
     

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