Investor Relations

FirstEnergy’s Pennsylvania Default Service Program DSP-IV and DSP-V Auctions: Information Session for Prospective Bidders on Wednesday, November 14, 2018

11/05/18

BOSTON--(BUSINESS WIRE)--Nov. 5, 2018-- CRA International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that three auction processes will be conducted concurrently for FirstEnergy Corp.’s (NYSE: FE) Pennsylvania utilities — Metropolitan Edison Company (“Met-Ed”), Pennsylvania Electric Company (“Penelec”), Pennsylvania Power Company (“Penn Power”) and West Penn Power Company (“West Penn Power”) — to procure full requirements Default Supply generation service for their Default Service Customers. The auction processes will lead up to three concurrent auctions scheduled for January 22, 2019.

The bidding processes will use a descending-price clock auction format. The auctions will be managed by Independent Evaluator and Auction Manager CRA International, Inc. The auctions are being conducted pursuant to FirstEnergy’s Pennsylvania Default Service Programs (DSP-IV and DSP-V) as approved by the Pennsylvania Public Utility Commission. This is the twelfth auction in the series of DSP-IV auctions that began in October 2016, and the second set of auctions in the series of DSP-V auctions that began in October 2018.

The Information Session for prospective bidders for the January auctions is scheduled for Wednesday, November 14, 2018. Instructions on how to join the Webcast session will be available on the Information Website at http://www.fepaauction.com/Documents/BidderInformationSessions.aspx. Part 1 Applications from prospective bidders will be accepted starting November 15 and are due no later than December 7. For successful Part 1 applicants, the submission window for the Part 2 Application process will be December 17 through January 9. Please note that the January 2019 DSP-IV and January 2019 DSP-V auctions are independent processes. A bidder who wishes to participate in the January DSP-IV and DSP-V auctions must complete separate Part 1 and Part 2 Applications for DSP-IV and DSP-V auctions.

The product each of the four Companies is procuring in the January 22 DSP-IV auction is a 3-month contract for commercial class customers (delivery period March through May 2019). The products each of the four Companies is procuring in the January 22 DSP-V Commercial/Residential (Fixed Price) auction include: 12-month residential class (delivery period June 2019 through May 2020), 24-month residential class (delivery period June 2019 through May 2021), 12-month commercial class (delivery period June 2019 through May 2020), and 24-month commercial class (delivery period June 2019 through May 2021). The product each of the four Companies is procuring in the January 22DSP-V Industrial (Hourly Priced) auction is a 12-month contract for industrial class customers (delivery period June 2019 through May 2020).

Additional information about the auction processes can be found at the Information Website at www.fepaauction.com.

About CRA International, Inc. and its Auctions & Competitive Bidding Practice

CRA is a global consulting firm specializing in litigation, regulatory, financial, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. Follow us on LinkedIn, Twitter, and Facebook. CRA’s Auctions & Competitive Bidding Practice offers businesses, governments, bidders, and other market participants extensive experience in auction and market design, implementation, monitoring, and participation. More information about CRA’s Auctions & Competitive Bidding Practice is available at www.auctions.crai.com.

Source: Charles River Associates

Charles River Associates
Media Relations, 617-425-6453
media@crai.com
or
Sharon Merrill Associates, Inc.
Jamie Bernard, 617-542-5300
Senior Associate