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Ohio Reports Results Of Default Service Auction

October 12, 2017

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

The Public Utilities Commission of Ohio (PUCO) has accepted the results of FirstEnergy EDCs’ wholesale default service auction that will ultimately determine its standard service offer through May 2021.

The auction, held on Oct. 10, 2017 secured both two and three-year products to supply electricity to FirstEnergy Ohio's utility customers, with delivery starting June 1, 2018

The two-year product auction (16 tranches) resulted in an average clearing price of $48.18 per megawatt-hour (MWh) for the delivery period of June 2018 to May 2020.

The three-year product auction (17 tranches) resulted in an average clearing price of $46.09 per MWh for the delivery period of June 2018 to May 2021.

The results will be blended with previous and future auctions to establish a price-to-compare for FirstEnergy Ohio non-shopping customers during the delivery period.

There were 6 winning bidders for the two-year product, and 3 winning bidders for the three-year product

The names of the winning bidders will remain confidential for 21 days.

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