PUCO accepts results of FirstEnergy
auction
COLUMBUS, OHIO (Oct. 15, 2014) – The Public Utilities Commission
of Ohio (PUCO) today approved the results of FirstEnergy’s ninth wholesale
auction that will ultimately determine its retail generation service rates
through May 2016.
During the 18-round auction, held Oct. 14, 2014, four competitive suppliers submitted
winning bids for the one-year product opportunity to provide electricity to
FirstEnergy customers. That auction resulted in an
average clearing price of $73.82 per megawatt hour for the delivery period June
1, 2015 through May 31, 2016.
These results will be blended with
previous auctions, and one upcoming auction to establish retail generation
rates from June 1, 2015 through May 31, 2016.
CRA International 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
regular 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 12-2742-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: Matt Schilling | (614) 466-7750
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