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ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2019 BGS-CIEP Auction

Please find below, for the BGS-CIEP Auction:

  • the tranche target for each EDC;
  • the statewide load cap; and
  • the size and MW-measure for each tranche.

A tranche target is the number of tranches needed for a given EDC at the beginning of the Auction.  There is a statewide load cap of 19 tranches, which is the maximum number of tranches that a bidder can bid in the Auction and serve statewide.

EDC CIEP PEAK LOAD SHARE (MW) Tranche Target Statewide Load Cap Size of Tranche (%) MW-Measure
PSE&G 1,840.93 25 19 4.00% 73.64
JCP&L 810.72 11 9.09% 73.70
ACE 301.30 4 25.00% 75.33
RECO 56.00 1 100.00% 56.00
Total 3,008.95 41 - - -

For the BGS-CIEP Auction, the statewide minimum starting price is $500/MW-day and the statewide maximum starting price is $700/MW-day. The statewide minimum and maximum starting prices are levels for the CIEP Price.

In the first round of the BGS-CIEP Auction, prices will be set no lower than the minimum starting price and no higher than the maximum starting price.  In their Part 2 Applications, Qualified Bidders will submit indicative offers at the maximum starting price and at the minimum starting price.  The number of tranches indicated by a Qualified Bidder at the maximum starting price cannot be lower than two.  Please see the BGS-CIEP Auction Rules for further details.

November 14, 2018.

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