BOSTON--(BUSINESS WIRE)--Feb. 2, 2016--
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 that is scheduled for April 11, 2016.
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 Program (DSP-III) as approved
by the Pennsylvania Public Utility Commission. This is the seventh
auction in the series of DSP-III auctions that began in October 2014.
The Information Session for prospective bidders for the April auction is
scheduled for Monday, February 8, 2016. Instructions on how to join the
webcast session will be available on the Information Website at www.fepaauction.com.
Part 1 Applications from prospective bidders will be accepted starting
February 15 and are due no later than February 29. For successful Part 1
applicants, the submission window for the Part 2 Application process
will be March 8 through March 25.
For each of the four Companies, products in the April 11 auction
include: 12-month residential class (delivery period June 2016 through
May 2017), 3-month commercial class (delivery period June 2016 through
August 2016), and 12-month commercial class (delivery period June 2016
through May 2017).
Additional information about the auction process 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 and
celebrated its 50th anniversary in 2015. 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: http://www.businesswire.com/news/home/20160202005926/en/
Source: CRA International, Inc.
Charles River Associates
Merrill Associates, Inc.
Jamie Bernard, 617-542-5300