FirstEnergy’s Pennsylvania Default Service Program DSP-VI Auction: Information Session for Prospective Bidders on Thursday, September 26, 2024

Rhea-AI Summary

CRA International (NASDAQ: CRAI) has announced an upcoming auction process for FirstEnergy Pennsylvania Electric Company (FE PA) to procure full requirements Default Supply generation service. The auctions, scheduled for November 12, 2024, will use a descending-price clock format and are part of FirstEnergy's Pennsylvania Default Service Program (DSP-VI).

Key dates include:

• Information session for prospective bidders: September 26, 2024
• Part 1 Applications: September 27 - October 9
• Part 2 Applications: October 16 - November 4

The November DSP-VI auction will offer residential and commercial fixed-price products with 12-month and 24-month delivery periods starting June 2025. CRA International will serve as the Independent Evaluator and Auction Manager. More information is available at www.fepaauction.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 Pennsylvania Electric Company (FE PA) to procure full requirements Default Supply generation service for their Default Service Customers. The auction process will lead up to the auctions scheduled for November 12, 2024.

The bidding process will use a descending-price clock auction format. The auctions will be managed by Independent Evaluator and Auction Manager, CRA International, Inc. The auctions are being conducted pursuant to FirstEnergy’s Pennsylvania Default Service Program (DSP-VI) as approved by the Pennsylvania Public Utility Commission. These are the next auctions in the DSP-VI auction series that began in November 2022.

The information session for prospective bidders for the November auction is scheduled for Thursday, September 26, 2024. Instructions on how to join the webcast are available on the Information Website at http://www.fepaauction.com/Documents/BidderInformationSessions.aspx.

Part 1 Applications from prospective bidders will be accepted starting September 27 and are due no later than October 9. For successful Part 1 applicants, the submission window for the Part 2 Application process will be October 16 through November 4.

The products that FE PA is procuring in the November DSP-VI Residential and Commercial (Fixed-Price) auction include a 12-month residential class product (delivery period June 2025 through May 2026), a 24-month residential class product (delivery period June 2025 through May 2027), a 12-month commercial class product (delivery period June 2025 through May 2026), and a 24-month commercial class product (delivery period June 2025 through May 2027).

Additional information about the auction process can be found at the Information Website at www.fepaauction.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. 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/20240926325377/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 Pennsylvania DSP-VI auction scheduled for 2024?

The FirstEnergy Pennsylvania DSP-VI auction is scheduled for November 12, 2024.

What company is managing the FirstEnergy Pennsylvania DSP-VI auction?

CRA International (NASDAQ: CRAI) is managing the auction as the Independent Evaluator and Auction Manager.

What type of auction format will be used for the FirstEnergy Pennsylvania DSP-VI auction?

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

When is the information session for prospective bidders in the FirstEnergy Pennsylvania DSP-VI auction?

The information session for prospective bidders is scheduled for Thursday, September 26, 2024.

What products are being offered in the November 2024 FirstEnergy Pennsylvania DSP-VI auction?

The auction offers 12-month and 24-month residential and commercial fixed-price products with delivery periods starting June 2025.