READING, Pa., Nov. 3, 2015 /PRNewswire/ — FirstEnergy Corp.’s (NYSE: FE) Metropolitan Edison (Met-Ed), Pennsylvania Electric (Penelec), Pennsylvania Power (Penn Power), and West Penn Power utility companies have filed plans with the Pennsylvania Public Utility Commission (PPUC) to procure electric generation supply beginning June 2017 for customers who choose not to shop with alternate suppliers.
The companies, which do not own any electric generating plants, serve approximately two million customers in Pennsylvania. An auction process will be used to ensure the utilities’ customers have a secure supply of electric generation.
The procurement process will be managed by CRA International, Inc. (CRA), a global consulting firm with expertise in energy markets. Under the proposed plan, CRA will conduct auctions in January, April and October. The first auction will be held in October 2016, with generation prices calculated based on a blended average by customer class. The process will ensure the confidentiality of information provided by bidders, which will be required to certify that they are creditworthy, acting independently of other bidders, and are making firm offers to provide generation service to customers.
The proposed program also includes a process for meeting state-mandated alternative energy standards, including a separate bidding process in order to meet a portion of the solar energy requirements through a request for proposal for one, two-year contract for the purchase of solar Renewable Energy Credits.
Additionally, the companies have proposed to continue the Customer Referral Program that was established in August 2013 in an effort to continue to enhance retail competition in their service territories.
Information about the filing and the proposed procurement program is available on the companies’ individual company webpages found at www.firstenergycorp.com.
The companies expect that the PPUC will rule on their Default Service Program petition in mid-2016.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation’s largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Visit FirstEnergy on the web at www.firstenergycorp.com, and on Twitter @FirstEnergyCorp.