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Retail Price Adjustment for Standard Choice Offer Customers at Vectren to Increase
Update: PUCO accepted the Vectren SCO RPA as set in the auction as described below
Vectren Energy Delivery of Ohio's Standard Choice Offer auction conducted on January 13, 2015 resulted in a Retail Price Adjustment of $1.15 per Mcf for the period April 1, 2015 through March 31, 2016.
PUCO is to address approval of the auction results today.
The current Retail Price Adjustment is $1.05 per Mcf.
Under the SCO auction, winning suppliers will directly serve non-shopping, choice-eligible customers won through the auction for the period April 1, 2015 through March 31, 2016 at a price equal to the Retail Price Adjustment, fixed for the 12-month term, plus the NYMEX prompt month settlement price for gas. Winning bidders also provide a proportional share of the volumes required to serve choice-ineligible customers under Default Sales Service.
Nine tranches of customers were available in the auction, and bidders were limited to winning a maximum of three tranches. Seven bidders participated in the auction, which is the same number that participated in the year-ago auction.
There were five winning bidders in the January 2015 auction, with two suppliers winning 3 tranches each, and three suppliers serving 1 tranche each.
Identities will remain confidential for 15 days.
Last year's auction also produced five winning bidders.
World Energy Solutions conducted the descending clock auction
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January 14, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com
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