FirstEnergy Ohio Utilities’ Competitive Bidding Process Auction: Information Session for Prospective Bidders on Wednesday, August 21, 2024

Rhea-AI Summary

CRA International (NASDAQ: CRAI) has announced an upcoming auction process for FirstEnergy Corp.'s (NYSE: FE) Ohio subsidiaries to procure full requirements service for their Standard Service Offer customers. The auction, scheduled for October 1, 2024, will use a descending-price clock format and will be managed by CRA International as the Auction Manager.

Key dates include:

• Information Session for prospective bidders: August 21, 2024
• Part 1 Applications acceptance: August 22 - September 3, 2024
• Part 2 Application submission window: Begins September 9, 2024

The auction process is subject to approval from the Public Utilities Commission of Ohio (PUCO). Interested parties can find more information on the Auction Information Website at firstenergycbp.com.

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 October 1, 2024.*

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

The Information Session for prospective bidders for the October auction is scheduled for Wednesday, August 21, 2024. Instructions on how to join the Zoom session are available on the Auction Information Website at firstenergycbp.com. Part 1 Applications from prospective bidders will be accepted starting August 22, 2024, and are due no later than September 3, 2024. For successful Part 1 applicants, the submission window for the Part 2 Application process will begin on September 9, 2024.

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

*Auction date subject to PUCO approval.

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/20240821203755/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 FirstEnergy Ohio Utilities' auction scheduled for 2024?

The FirstEnergy Ohio Utilities' auction is scheduled for October 1, 2024, subject to PUCO approval.

What company is managing the FirstEnergy Ohio Utilities' auction process?

CRA International (NASDAQ: CRAI) is managing the auction process as the Auction Manager.

What format will the FirstEnergy Ohio Utilities' auction use?

The auction will use a descending-price clock auction format.

When is the Information Session for prospective bidders in the FirstEnergy Ohio Utilities' auction?

The Information Session for prospective bidders is scheduled for Wednesday, August 21, 2024.

What are the key dates for the FirstEnergy Ohio Utilities' auction application process?

Part 1 Applications are accepted from August 22 to September 3, 2024. The Part 2 Application submission window begins on September 9, 2024.