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Retail Price Adjustment for Standard Choice Offer Customers at Vectren to Increase
Updated 1/14/16: The Public Utilities Commission of Ohio approved the Retail Price Adjustment of $1.20 per Mcf for the period April 1, 2016 through March 31, 2017
Vectren Energy Delivery of Ohio's Standard Choice Offer auction conducted on January 12, 2016 resulted in a Retail Price Adjustment of $1.20 per Mcf for the period April 1, 2016 through March 31, 2017.
PUCO is to address approval of the auction results today.
The current Retail Price Adjustment is $1.15 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, 2016 through March 31, 2017 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. Five bidders made bids in the auction, versus seven bidders in the year-ago auction.
There were four winning bidders in the January 2016 auction, with two suppliers winning 3 tranches each, one supplier winning 2 tranches, and one supplier winning 1 tranche
Identities will remain confidential for 15 days.
Last year's auction produced five winning bidders.
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January 12, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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