Direct Energy Gas Forward Contracts Backed By LOC
University Of Illinois System OfficesHigher Ed · Urbana, IL- Disclosed value
- $0.42 million current notional; LOC $2.5 million
- From report
- Document date
- Sep 22, 2022
- Term
- 2023–2024
The 30-second brief
The University of Illinois System hedges natural gas purchases through forward contracts with Direct Energy Business Marketing, backed by a $2.5 million letter of credit from Deutsche Bank AG. These contracts cover exposure into 2024 and help manage fuel price volatility.
Direct Energy Business Marketing holds this financial services contract with University Of Illinois System Offices. Its other public contracts on record include work for Morris County Vocational School District and Livonia Central School District.
Term as filed: 2023–2024.
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Contract details
- Contract type
- Financial Services
- Amount
- $0.42 million current notional; LOC $2.5 million
- Document date
- September 22, 2022
- Term
- 2023–2024
- Source document
- University of Illinois System Offices Derivatives Use Report September 2022 (Report)
Direct Energy Business Marketing's other public contracts
More University Of Illinois System Offices contracts
Questions about this contract
Who was awarded the financial services contract by University Of Illinois System Offices?
Direct Energy Business Marketing was awarded this financial services contract by University Of Illinois System Offices, as recorded on September 22, 2022. The contract value is $0.42 million current notional; LOC $2.5 million.
How much is the Direct Energy Business Marketing contract with University Of Illinois System Offices worth?
The Direct Energy Business Marketing contract with University Of Illinois System Offices is valued at $0.42 million current notional; LOC $2.5 million, covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a report record.
Where was this contract approved?
This contract appears in University of Illinois System Offices Derivatives Use Report September 2022 (Report), dated September 22, 2022 from University Of Illinois System Offices. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Direct Energy Business Marketing hold?
Direct Energy Business Marketing may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is University Of Illinois System Offices currently buying?
Explore University Of Illinois System Offices's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.