 PUCO accepts results of AEP Ohio’s
auction
COLUMBUS,
OHIO (Nov. 20, 2014) – The Public Utilities Commission of Ohio (PUCO) today
approved the results of AEP Ohio’s fourth energy-only auction that will
ultimately determine its retail generation service rates through May 2015.
During
the 14-round auction, held Nov. 18, 2014, five competitive
suppliers submitted winning bids for the five-month product to provide
electricity to AEP Ohio customers. The auction resulted in an average clearing
price of $51.37 per megawatt hour for 40 percent of AEP Ohio’s standard service
offer (SSO) load for the delivery period January 2015 through May 2015.
In August 2012, the PUCO modified and approved AEP Ohio’s
application to establish an electric security plan (ESP), effective through May
31, 2015. The approved ESP moved AEP-Ohio towards a fully competitive
market-based structure.
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 14-0300-EL-UNC.
-30-
14-0300-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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