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ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2021 BGS-CIEP Auction

Please find below, for the BGS-CIEP Auction:

  1. the tranche target for each EDC;
  2. the statewide load cap; and
  3. 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 18 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

Tranche Size   (%)

MW-Measure

PSE&G

1,810.92

24

18

4.17%

75.46

JCP&L

844.10

11

9.09%

76.74

ACE

321.80

4

25.00%

80.45

RECO

54.69

1

100.00%

54.69

Total

3,031.51

40

-

-

-

For the BGS-CIEP Auction, the statewide minimum starting price is $500/MW-day and the statewide maximum starting price is $650/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 20, 2020.

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