 PUCO accepts results of Duke electricity auction
COLUMBUS, OHIO (Nov. 13, 2013) – The Public Utilities Commission of Ohio (PUCO) today approved the results of the last of five wholesale auctions that will ultimately determine Duke Energy Ohio’s electric generation rates through May 2015.
During yesterday’s 16-round auction, competitive suppliers submitted bids for the opportunity to provide electricity to Duke’s non-shopping customers. 11 suppliers registered for the auction, and five submitted winning bids that resulted in an average clearing price of $50.11 per megawatt hour. This clearing price will not immediately impact customer bills, but will be blended with prices received in December 2011, May 2012, November 2012 and May 2013 auctions to determine the generation prices paid by customers from June 1, 2014 through May 31, 2015.
CRA International served as the independent auction manager. Boston Pacific Company and the PUCO staff monitored the auction process. The names of the winning suppliers will be released by the PUCO on Dec. 4, 2013.
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.PUCO.ohio.gov. The PUCO’s Apples to Apples rate charts provide customers with a snapshot comparison of current electric supplier price options and contract terms. The PUCO updates the charts on a regular basis and verifies each supplier offer to ensure accuracy.
Today’s Commission finding and order and a redacted version of the report issued by the auction manager will be available later today at www.PUCO.ohio.gov. Click on the link to the Docketing Information System, and enter case number 11-6000-EL-UNC.
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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: Jason Gilham | (614) 466-7750
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