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ANNOUNCEMENT: Minimum and Maximum Starting Prices, Tranche Targets, and Load Caps for the 2018 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

1,903.79

25

19

4.00%

76.15

JCP&L

915.08

12

8.33%

76.26

ACE

318.70

4

25.00%

79.68

RECO

56.30

1

100.00%

56.30

Total

3,193.87

42

-

-

-

For the BGS-CIEP Auction, the statewide minimum starting price is $425/MW-day and the statewide maximum starting price is $550/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 15, 2017.

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