International, Inc. (NASDAQ: CRAI), a worldwide leader in providing economic,
financial, and management consulting services, today announced that
an auction process will be conducted 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 process will lead up to the
auction scheduled for April 29, 2019.
The bidding process will use a descending-price clock auction format.
The auction will be managed by Independent Evaluator and Auction Manager
CRA International, Inc. The auction is being conducted pursuant to
FirstEnergy’s Pennsylvania Default Service Programs (DSP-V) as approved
by the Pennsylvania Public Utility Commission. This is the third auction
in the series of DSP-V auctions that began in October 2018.
The Information Session for prospective bidders for the April auction is
scheduled for Wednesday, March 6, 2019. Instructions on how to join the
Webcast session are available on the Information Website at http://www.fepaauction.com/Documents/BidderInformationSessions.aspx.
Part 1 Applications from prospective bidders will be accepted starting
March 7 and are due no later than March 26. For successful Part 1
applicants, the submission window for the Part 2 Application process
will be April 2 through April 16.
The products each of the four Companies is procuring in the April 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), 3-month commercial class (delivery period
June – August 2019), 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 at the
Information Website at www.fepaauction.com.
About CRA International, Inc. and its Auctions & Competitive Bidding
Charles River Associates® is a leading global consulting firm
specializing in economic,
financial, and management consulting services. 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.
Charles River Associates
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