By Daniel Webster, dWeb.News Publisher
BOSTON–(BUSINESS WIRE)–CRA 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 will culminate in the 2021. auction.
Bidding will be done using a descending clock auction format. Independent Evaluator and Auction Manager CRA International, Inc will manage the auction. This auction will be conducted in accordance with FirstEnergy’s Pennsylvania Default Service Program, (DSP-V), as approved by Pennsylvania Public Utility Commission. This auction is the next in the DSPV auction series, which began in October 2018..
The Information Session for prospective bidders for the November auction is scheduled for Wednesday, September 15, 2021. 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 September 16 and are due no later than October 4. For successful Part 1 applicants, the submission window for the Part 2 Application process will be October 12 through October 26.
The product each of the four Companies is procuring in the November DSP-V Commercial (Fixed-Price) auction is the 12-month residential class contract (delivery period June 2022 through May 2023, 3-month commercial class contract (delivery period December 2021 through February 2022), and 12-month commercial class contract (delivery period June 2022 through May 2023.
More information on the auction process is available at http://www.fepaauction.com.
About CRA international, Inc. and its Auctions & Competitive bidding Practice
CRA, a global consulting company that specializes in management, litigation, regulatory, financial and management consulting. CRA provides advice on economic and financial issues related to litigation and regulatory proceedings and assists corporations with critical business strategy and performance-related questions. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. CRA is headquartered in Boston and has offices around the globe. You can find detailed information about Charles River Associates, a registered trademark of CRA International, Inc. at http://www.crai.com. Follow us on LinkedIn and Twitter. The CRA’s Auctions & Competitive Bidding Practice provides businesses, governments, bidders and other market participants with extensive experience in market and auction design, implementation, monitoring and participation. More information about CRA’s Auctions & Competitive Bidding Practice is available at http://www.auctions.crai.com.
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