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) Ohio utilities to procure full requirements service for their Standard Service Offer customers. The auction process will lead up to two auctions scheduled for April 13 and April 26, 2016.
The bidding process will use a descending-price clock auction format. The auctions will be managed by Auction Manager CRA International, Inc. The auctions are being conducted pursuant to FirstEnergy’s Ohio Electric Security Plan (ESP-IV) which is pending approval by the Public Utilities Commission of Ohio. These will be the first and second auctions in the series of ESP-IV auctions.
The first of two Information Sessions for prospective bidders for the April auctions is scheduled for Tuesday, March 15, 2016. Instructions on how to join the Webcast session will be available on the Auction Information Website at www.firstenergycbp.com. Part 1 Applications from prospective bidders will be accepted starting March 15 and are due no later than March 23. For successful Part 1 applicants, the submission window for the Part 2 Application process will be March 28 through April 4 for the April 13 auction, and March 28 through April 14 for the April 26 auction.
Each of the two auctions in April will include three products: 12-month delivery period (June 2016 through May 2017), 24-month delivery period (June 2016 through May 2018), and 36-month delivery period (June 2016 through May 2019).
Additional information about the auction process can be found at the Information Website at www.firstenergycbp.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 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. 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.