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FirstEnergy Ohio Utilities’ Competitive Bidding Process Auction: Applications From Prospective Bidders Due No Later Than Thursday, January 25, 2024
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CRA International, Inc. (NASDAQ: CRAI) will conduct an auction process for FirstEnergy Corp.'s Ohio subsidiaries to procure full requirements service for their Standard Service Offer customers. The auction is scheduled for February 19, 2024, and will use a descending-price clock auction format. The bidding process will be managed by CRA International, Inc. and is being conducted pursuant to approval from the Public Utilities Commission of Ohio (PUCO). Part 1 Applications from prospective bidders are due by January 25, 2024, and the submission window for the Part 2 Application process will begin on January 30, 2024.
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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 February 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).
Part 1 Applications from prospective bidders are due no later than January 25, 2024. For successful Part 1 applicants, the submission window for the Part 2 Application process will begin on January 30, 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.
What is the auction process being conducted by CRA International, Inc. (CRAI)?
CRA International, Inc. (NASDAQ: CRAI) is conducting an auction process for FirstEnergy Corp.'s Ohio subsidiaries to procure full requirements service for their Standard Service Offer customers.
When is the auction scheduled for?
The auction is scheduled for February 19, 2024.
What is the format of the auction?
The auction will use a descending-price clock auction format.
Who is managing the bidding process for the auction?
The bidding process will be managed by CRA International, Inc. (NASDAQ: CRAI).
What is the deadline for Part 1 Applications from prospective bidders?
Part 1 Applications are due no later than January 25, 2024.
When will the submission window for the Part 2 Application process begin?
The submission window for the Part 2 Application process will begin on January 30, 2024.
