Columbia Ohio Auction Results in Adder of $1.88/Mcf

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February 9, 2011  

An auction to establish the Standard Service Offer (SSO) price at Columbia Gas of Ohio resulted in a Retail Price Adjustment of $1.88/Mcf.

The Retail Price Adjustment would be added to the monthly NYMEX settlement price to determine the price paid by customers on the Standard Service Offer for the period April 1, 2011 through March 31, 2012.

The results of the descending-clock auction, held February 8, will be considered by PUCO at today's Commission meeting.

Sixteen suppliers participated in the auction.  Sixteen tranches were available, with a load cap of four tranches.

Seven winning bidders split the 16 tranches.  Winning bidder identities will remain confidential for 30 days.

The 2011 auction produced a lower adder than the 2010 SSO auction, which produced a retail price adjustment of $1.93/Mcf.  The 2011 auction also saw greater participation versus the thirteen participating bidders in 2010.  The number of winning bidders, seven, was identical for both the 2010 and 2011 auctions.

World Energy Solutions managed the auction.

Separately, Columbia Gas sought to delay the necessary posting of deposits for new winning SSO suppliers until the service start date of April 1, 2011 (see related story).

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