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PUCO Approves AEP Ohio Revised PPA Rider Limited To OVEC, OKs Utility Development of Renewable Generation
The Public Utility Commission of Ohio approved a revised nonbypassable PPA rider at AEP Ohio, which is now limited to the Ohio Valley Electric Corporation (OVEC), in light of FERC jurisdictional issues with PPAs with AEP Ohio-affiliated generation.
PUCO affirmed that authorization of a PPA rider is permitted by R.C. 4928.143(B)(2)(d).
"The Commission affirms our findings, as set forth in the ESP 3 Order, that a properly designed and implemented PPA rider proposal has the potential to supplement the benefits derived from the staggering and laddering of the SSO auctions; protect customers from market price volatility; and provide value for consumers through a significant financial hedge that truly stabilizes rates, particularly during periods of extreme weather," PUCO said
AEP Ohio's share of OVEC will be sold into PJM, with credits/costs allocated to customers via a nonbypassable PPA rider.
PUCO also maintained a provision from a stipulation that AEP Ohio is granted authority to develop up to 900 MW of utility-scale wind (500 MW) and solar (400 MW), own up to 50% of it through an AEP affiliate, and enter into long-term PPAs for such generation. The remaining ownership and construction of these projects will be competitively bid.
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November 4, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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