BOSTON--(BUSINESS WIRE)--Sep. 6, 2018-- CRA 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 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.
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Source: CRA International, Inc.
Charles River Associates
Media Relations, 617-425-3620
media@crai.com
or
Sharon Merrill Associates, Inc.
Andrew Blazier, 617-542-5300
Senior Associate
