The 2024 BGS-CIEP Auction and the 2024 BGS-RSCP Auction are scheduled to begin in early 2024. The New Jersey Board of Public Utilities (Board) is expected to make a decision on the results within 2 days of the end of the BGS-RSCP Auction or the BGS-CIEP Auction, whichever comes later. At that time, the Board may also release results of the auctions through its website.
Each year since 2002, the four New Jersey Electric Distribution Companies (EDCs) - Public Service Electric and Gas Company (PSE&G), Jersey Central Power & Light Company (JCP&L), Atlantic City Electric Company (ACE), and Rockland Electric Company (RECO) - have procured several billion dollars of electric supply to serve their Basic Generation Service (BGS) customers through a statewide Auction Process held in February. BGS refers to the service of customers who are not served by a third party supplier or competitive retailer. This service is sometimes known as Standard Offer Service, Default Service, or Provider of Last Resort Service. The Auction Process has consisted of two auctions that are held concurrently, one for larger customers (BGS-CIEP) and one for smaller commercial and residential customers (BGS-RSCP).
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