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PUC Discloses Pricing From Default Service Auction
The Public Utilities Commission of Ohio (PUCO) has accepted the results of AEP Ohio’s November 2017 wholesale auction that will, when blended with other auction results, determine the utility's default generation rates beginning June 1, 2018.
The auction, held on Nov. 28, 2017 secured one-, two- and three-year products to supply electricity to AEP Ohio’s utility customers. The results will be blended with future auctions to establish a price-to-compare for AEP Ohio’s customers during the delivery period.
The one-year product auction (17 tranches) resulted in seven winning bidders and an average clearing price of $52.39 per megawatt-hour (MWh) for the delivery period of June 1, 2018 to May 31, 2019.
The two-year product auction (17 tranches) resulted in five winning bidders and an average clearing price of $49.32 per MWh for the delivery period of June 1, 2018 to May 31, 2020.
The three-year product auction (16 tranches) resulted in five winning bidders and an average clearing price of $47.27 per MWh for the delivery period of June 1, 2018 to May 31, 2021.
There were seven winning bidders across all of the product types
The names of the winning bidders will remain confidential for 21 days.
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November 30, 2017
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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