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”) (collectively the “Companies”) — to procure full requirements Default Supply generation service for their Default Service Customers for the delivery period beginning June 2015.
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 scheduled to take place April 13, 2015 and is being conducted pursuant to the FirstEnergy’s Pennsylvania Default Service Program (DSP-III) as approved by the Pennsylvania Public Utility Commission. This is the third auction in the series of DSP-III auctions that began in October 2014.
For the April 13, 2015 auction, Part 1 Applications from prospective bidders are due no later than March 2, 2015. For successful Part 1 applicants, the submission window for the Part 2 Application process will be March 10 through March 27, 2015.
The products to be procured in the April 13, 2015 auction for each of the four Companies are as follows: 12-month residential class (delivery period June 2015 through May 2016), 24-month residential class (June 2015 through May 2017), 3-month commercial class (June 2015 through August 2015), 12-month commercial class, and 24-month commercial class.
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 Practice
CRA is a global consulting firm specializing in litigation, regulatory, and financial consulting, 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 is celebrating its 50th year anniversary in 2015. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at www.crai.com. 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.crai.com/service/auctions/.