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ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2022 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 17 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

1,682.87

22

17

4.55%

76.49

JCP&L

739.42

10

10.00%

73.94

ACE

297.60

4

25.00%

74.40

RECO

45.22

1

100.00%

45.22

Total

2,765.11

37

-

-

-

For the BGS-CIEP Auction, the statewide minimum starting price is $410/MW-day and the statewide maximum starting price is $520/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 17, 2021.

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