 PUCO accepts results of AEP Ohio’s
auction
COLUMBUS,
OHIO (Apr. 29, 2015) – The Public Utilities Commission of Ohio (PUCO) today
approved the results of AEP Ohio’s first wholesale auction that will ultimately
determine its retail generation service rates through May 2018.
“We are pleased with today’s auction results.
Affordability for consumers is important,” stated Chairman Andre T. Porter. “We
continue to monitor and address issues within the marketplace to ensure overall
cost-effectiveness for utilities and consumers.”
The results of this auction will be blended
with future auctions, including an auction on May 12, 2015, to establish AEP
Ohio’s standard service offer rates beginning June 1, 2015.
During
the 18-round auction, held Apr. 28, 2015, five competitive
suppliers submitted winning bids for a one-year product to supply electricity
to AEP Ohio’s customers, which resulted in an average clearing price of $53.79 per megawatt hour (MWH) for
the delivery period of June 1, 2015 to May 31, 2016. Also bid was a two-year product, with seven competitive
suppliers submitting winning bids for an average clearing price of $53.51 per MWH
for the delivery period of June 1, 2015 to May 31, 2017. Five suppliers
submitted winning bids for a three-year product with an average clearing price
of $55.58 per MWH for the delivery period of June 1, 2015 to May 31, 2018.
National Economic Research Associates served as the
independent auction manager, and Boston
Pacific Company, a consultant retained by the PUCO, monitored the auction
process. The names of the winning bidders will remain confidential for 21 days.
Customers
continue to have the opportunity to consider competitive options to meet their
electricity needs, including shopping for an alternate supplier or joining a
local government aggregation group. More information about how to choose a
supplier is available at www.energychoice.ohio.gov. The PUCO’s Apples
to Apples rate comparison charts provide customers with a snapshot
comparison of current electric supplier price options and contract terms. The
charts are updated on a daily basis.
A
copy of today’s Commission finding and order and redacted version of the report
issued by the auction manager are available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and
enter the case number 15-792-EL-UNC.
-30-
15-792-EL-UNC
The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business and industrial consumers have access to adequate, safe and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.
For additional information, contact: Matt Schilling | (614) 466-7750
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