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ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2024 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 18 tranches, which is the maximum number of tranches that a bidder can bid in the Auction and serve statewide.
Peak Load Share (MW)
Tranche Target Statewide Load Cap Tranche Size (%) MW-Measure
PSE&G  1,561.08 21 18 4.76% 74.34
JCP&L 876.70 12 8.33% 73.06
ACE 326.00 4 25.00% 81.50
RECO 49.30 1 100.00% 49.30
Total 2,813.08 38 - - -

For the BGS-CIEP Auction, the statewide minimum starting price is $450/MW-day and the statewide maximum starting price is $600/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 10, 2023.

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