Boston Edison Seeks Bids for Power.BOSTON Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. , Mass.--(BUSINESS WIRE)--June 30, 1998--Boston Edison Edison, township (1990 pop. 88,680), Middlesex co., NE N.J., inc. 1870 as Raritan Township, renamed 1954. Edison's varied manufactures include light trucks, chemicals, metal products, electrical and electronic equipment, machinery, and instruments. Company today issued a Request for Proposals (RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. ) seeking bids for about 2000 megawatts of electricity. The power will replace the electricity which is now being supplied by Sithe v. i. 1. To sigh. n. 1. A scythe. v. t. 1. To cut with a scythe; to scythe. Energies from generating plants Sithe recently purchased from Boston Edison. The short term power purchase agreement with Sithe expires November November: see month. 30, 1998. The power purchased through this competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. process, combined with power from the Pilgrim nuclear plant and other power supply contracts, will be used to meet Edison's energy service obligations for the period of December 1, 1998 through May 31, 1999. The company will also entertain supply bids extending through December 31, 1999. Proposals must be submitted not later than August 3, 1998 and the winning bid(s) will be selected by September 4, 1998. Paul D. Vaitkus, Edison's Director of Energy Supply said, "We have designed this process to encourage broad participation and innovative supply offeringsin order to obtain the lowest possible prices for our customers. Participants may bid to supply some or all of our power supply needs and they may propose any form of contract they deem appropriate for Boston Edison's consideration." This is Boston Edison's first RFP for power since the industry was deregulated on March 1, 1998 and the company began its process of exiting the generation business. Edison completed the sale of its oil and gas fueled generating plants on May 15, 1998 and is seeking potential buyers for the Pilgrim nuclear power plant in Plymouth.
CONTACT: Boston Edison
Mike Monahan, 617/424-2460
Evenings and weekends, 617/541-7888
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