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New Jersey BGS Default Service Auction Prices Up To 20% Lower Versus Prior Contracts Being Replaced
New Jersey's 2017 procurement of contracts for one-third of the fixed priced Basic Generation Service (BGS) default electric service portfolio resulted in contracts that are 6.8 percent to 18.2 percent less expensive than the expiring contracts from the 2014 BGS auction.
For Fixed Price customers (below 500 kW), the 2017 BGS auction procured 36-month tranches for the period starting June 1, 2017, with pricing as follows:
Final fixed price BGS rates will reflect a blend of the above prices and prices from the two prior BGS auctions, under a blending process.
These new tranches replace tranches procured in 2014 which had the following prices:
For hourly-priced CIEP customers (500 kW and higher), when compared to last year, the prices for all four EDCs are lower mostly due to lower capacity prices, as the BGS auction procured 12-month tranches for the period starting June 1, 2017, with pricing as follows:
The winning bidders in the Fixed Price (FP) Auction were:
The 2017 BGS-CIEP Auction winners were:
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February 13, 2017
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
Utility Closing Price Tranches
(¢/kWh) Procured
ACE 7.549 8
JCP&L 6.908 15
PSE&G 9.078 28
RECO 8.050 2
Utility 2014 Closing Price
(¢/kWh)
ACE 8.780
JCP&L 8.444
PSE&G 9.739
RECO 9.561
Utility Closing Price Tranches
($/Mw-day) Procured
ACE 217.00 5
JCP&L 218.00 12
PSE&G 276.83 25
RECO 223.61 1
BP Energy Company
Calpine Energy Services LP
DTE Energy Trading, Inc.
Engelhart Commodities Trading Partners
Exelon Generation Company, LLC
Macquarie Energy LLC
NextEra Energy Marketing, LLC
Noble Americas Gas & Power Corp.
PSEG Energy Resources & Trade LLC
TransCanada Power Marketing Ltd.
ConocoPhillips Company
DTE Energy Trading, Inc.
Engelhart Commodities Trading Partners
Exelon Generation Company, LLC
NextEra Energy Marketing, LLC
PSEG Energy Resources & Trade LLC
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