BOSTON--(BUSINESS WIRE)--Sep. 6, 2018--
International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic,
financial, and management consulting services, today announced that
two 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 two concurrent auctions scheduled for October 29, 2018.
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 eleventh auction in the series of DSP-IV auctions that began
in October 2016 and the first auction in the series of DSP-V auctions.
The Information Session for prospective bidders for the October auctions
is scheduled for Wednesday, September 12, 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
September 13 and are due no later than September 27. For successful
Part 1 applicants, the submission window for the Part 2 Application
process will be October 4 through October 16. Note that the October 2018
DSP-IV and October 2018 DSP-V auctions are independent processes. A
bidder who wishes to participate in both auctions must complete separate
Part 1 and Part 2 Applications for each auction.
The product each of the four Companies is procuring in the October 29
DSP-IV auction is a 3-month contract for commercial class customers
(delivery period December 2018 through February 2019). The products each
of the four Companies is procuring in the October 29 DSP-V 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).
Additional information about the auction processes can be found on 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/20180906005444/en/
Source: CRA International, Inc.
Charles River Associates
Media Relations, 617-425-3620
Merrill Associates, Inc.
Andrew Blazier, 617-542-5300