BOSTON--(BUSINESS WIRE)--Nov. 5, 2018--
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
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.
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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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181105005470/en/
Source: Charles River Associates
Charles River Associates
Media Relations, 617-425-6453
Merrill Associates, Inc.
Jamie Bernard, 617-542-5300