LPTs are custom-designed equipment that entail significant capital expenditures and long lead times due to an intricate procurement and manufacturing process. Although the costs and pricing vary by manufacturer and by size, an LPT can cost millions of dollars and weigh between approximately 100 and 400 tons (or between 200,000 and 800,000 pounds). Procurement and manufacturing of LPTs is a complex process that requires prequalification of manufacturers, a competitive bidding process, the purchase of raw materials, and special modes of transportation due to its size and weight. The result is the possibility of extended lead times that could stretch beyond 20 months if the manufacturer has difficulty obtaining certain key parts or materials. Two raw materials—copper and electrical steel—account for over 50 percent of the total cost of an LPT. Electrical steel is used for the core of a power transformer and is critical to the efficiency and performance of the equipment; copper is used for the windings. In recent years, the price volatility of these two commodities in the global market has affected the manufacturing conditions and procurement strategy for LPTs.