FirstEnergy Ohio Utilities’ Competitive Bidding Process Auction: Information Session for Prospective Bidders on Thursday, February 8, 2024

Rhea-AI Summary

CRA International, Inc. (CRAI) will conduct an auction process for FirstEnergy Corp.'s Ohio subsidiaries to procure full requirements service for their customers, scheduled for March 19, 2024. The auction will use a descending-price clock format and will be managed by CRA International, Inc. The Information Session for prospective bidders is set for February 8, 2024, with application deadlines in February. The auction is being conducted under the approval of the Public Utilities Commission of Ohio (PUCO).

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 subsidiaries – Ohio Edison, The Illuminating Company, and Toledo Edison – to procure full requirements service for their Standard Service Offer customers. The auction process will lead up to the auction scheduled for March 19, 2024.

The bidding process will use a descending-price clock auction format. The auction will be managed by the Auction Manager, CRA International, Inc. The auction is being conducted pursuant to approval from the Public Utilities Commission of Ohio (PUCO).

The Information Session for prospective bidders for the February auction is scheduled for Thursday, February 8, 2024. Instructions on how to join the WebEx session are available on the Auction Information Website at firstenergycbp.com. Part 1 Applications from prospective bidders will be accepted starting February 9, 2024, and are due no later than February 20, 2024. For successful Part 1 applicants, the submission window for the Part 2 Application process will begin on February 23, 2024.

Additional information about the auction process can be found at the Information Website at firstenergycbp.com.

About CRA International, Inc. and its Auctions & Competitive Bidding Practice

CRA is a 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, Instagram, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240205550926/en/

Media Relations

Charles River Associates

media@crai.com

617-425-3620

Nicholas Manganaro

Sharon Merrill Advisors

crai@investorrelations.com

617-542-5300

Source: CRA International, Inc.

FAQ

When is the auction for FirstEnergy Corp.'s Ohio subsidiaries scheduled?

The auction is scheduled for March 19, 2024.

What format will be used for the auction?

The auction will use a descending-price clock format.

Who will manage the auction?

The auction will be managed by CRA International, Inc.

When is the Information Session for prospective bidders?

The Information Session is set for February 8, 2024.

Under whose approval is the auction being conducted?

The auction is being conducted under the approval of the Public Utilities Commission of Ohio (PUCO).