FirstEnergy Solutions (FES) filed a motion to approve bidding procedures – and the ultimate sale – of its retail business.
FES has entered into an asset purchase agreement with Exelon Generation Company, LLC. (Exelon), which is an affiliate of Constellation Energy. The purchase relates to FES’ retail business and includes primarily the purchase of customer contracts that FES has with various customers either directly or through brokers and aggregation programs. The agreement is not for the purchase of FES’ generating plants.
OMA’s energy counsel Kim Bojko of Carpenter Lipps & Leland describes the bidding process in this memo to the OMA Energy Group. She addresses considerations for manufacturers who may presently be in contract with FES for power supply. 7/12/2018