Met-Ed and Penelec Default Service Program January ... - FirstEnergy

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Descending Clock Auction Has FourMain Features1. Bids are binding unless the price ticks down: A biddercannot reduce the number of tranches bid on a product if thegoing price did not tick down2. Total number of tranches bid cannot increase: Bidderscan only maintain or reduce their total number of tranches bidfrom one round to the next3. Auction closes on all products at once: The winners aredetermined for all products at the same time4. Uniform price: All winners on a product are given the samepriceMet-Ed and Penelec Default Service Program38
Round SchematicRound and andBidding StartBids Bids at at Going PricesBids are numbers oftranches for each productthat suppliers are willing toserve at the going prices forthe roundBidding EndsInformation to toBiddersRound Ends EndsMet-Ed and Penelec Default Service Program• Indication of total excesssupply in the round andgoing Prices for nextround(Price for a product ticksdown if number oftranches bid is greaterthan tranches needed)39
Page 1 and 2: Met-Ed and PenelecDefault Service P
Page 3 and 4: Scope of Presentation• This Bidde
Page 5 and 6: Disclaimer• Any statements descri
Page 7 and 8: The Met-Ed and Penelec DefaultServi
Page 9 and 10: Two Different AuctionsFor Two Diffe
Page 11 and 12: Suppliers Get Benefit of Solar RFP
Page 13 and 14: Auction Web Site• Auction web sit
Page 15: Main Features1. A Fixed Auction and
Page 18 and 19: Auction Format is a Clock Auction
Page 20 and 21: Bids in Both Auctions Submitted On-
Page 22 and 23: Commission Has Approved the SMAs•
Page 24 and 25: Commission Will Consider AuctionRes
Page 26 and 27: Supplier’s Role and Standard Cont
Page 28 and 29: PJM’s Perspective of SuppliersFro
Page 30 and 31: BB- Is the Minimum Rating• Securi
Page 32 and 33: Credit Provisions for Hourly Auctio
Page 34 and 35: Compliance with AEPS through AECs
Page 36 and 37: Supplier Risk Mitigation Features
Page 40 and 41: What Is A Bid in Round 1?• A bid
Page 42 and 43: Changes in Round 2 Bidding• A bid
Page 44 and 45: Bidders Must Name an Exit Price Whe
Page 46 and 47: A Bidder Could Be Asked to Indicate
Page 48 and 49: Changes in Round 2 Reporting• Eac
Page 50 and 51: Free Eligibility• In any given ro
Page 52 and 53: Bids Are Submitted Online• Biddin
Page 54 and 55: To Be Technically Prepared• Biddi
Page 56 and 57: Proposal Submission ProcessMet-Ed a
Page 58 and 59: Key Dates17 Nov 2009Deadline for su
Page 60 and 61: Requirements for Part 2• A Suppli
Page 62: QUESTIONS???

Met-Ed and Penelec Default Service Program January ... - FirstEnergy

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