FE · 10-Q · 2026Q1 · Full report

Customer Procurement and Auctions

FIRSTENERGY CORP · 2026-04-28 · Importance 24 · Surprise 14

JCP&L procures electric supply for BGS (Basic Generation Service) customers through a statewide auction process approved by the New Jersey Board of Public Utilities, making auction rates a key determinant of generation sales revenue and unit cost pass‑throughs. The company reported generation sales revenue up $84 million in Q1 2026, primarily due to higher non‑shopping generation auction rates and increased sales volumes, indicating auction outcomes materially influenced Q1 results. This procurement structure concentrates sensitivity to NJ auction pricing and participation by shopping vs. non‑shopping customers.

Key facts

• JCP&L procures electric supply to serve its BGS customers through a statewide auction process approved by the NJBPU.