FirstEnergy Ohio Utilities' Electric Security Plan ESP-IV Auction: Information Session for Prospective Bidders on Tuesday, December 3, 2019

Business Wire 14-Nov-2019 8:30 AM

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 the auction scheduled for January 28, 2020.

The bidding process will use a descending-price clock auction format. The auction will be managed by Auction Manager CRA International, Inc. The auction is being conducted pursuant to the FirstEnergy Ohio Utilities' Electric Security Plan (ESP-IV) as approved by the Public Utilities Commission of Ohio. This is the tenth auction in the series of ESP-IV auctions.

The Information Session for prospective bidders for the January auction is scheduled for Tuesday, December 3, 2019. Instructions on how to join the Webcast session are available on the Auction Information Website at www.firstenergycbp.com. Part 1 Applications from prospective bidders will be accepted starting December 4 and are due no later than December 18. For successful Part 1 applicants, the submission window for the Part 2 Application process will be January 2 through January 15.

The products in the January 28 auction are a 12-month contract (delivery period June 2020 through May 2021) and a 24-month contract (delivery period June 2020 through May 2022).

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

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. 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.

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