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PUC Accepts Pricing From Default Service Auction
The Public Utilities Commission of Ohio (PUCO) accepted the results of FirstEnergy Ohio utilities’ wholesale auction that will ultimately determine its Standard Service Offer through May 2021.
The auction, held on Jan. 29, 2018 secured both two and three-year products to supply electricity to FirstEnergy Ohio utility customers.
The two-year product auction resulted in an average clearing price of $49.31 per megawatt hour (MWh) for the delivery period of June 2018 through May 2020.
The three-year product auction resulted in an average clearing price of $49.35 per MWh for the delivery period of June 2018 through May 2021.
The results will be blended with previous and future auctions to establish a price-to-compare for FirstEnergy’s Ohio customers during the delivery period.
Each product had four winning bidders for the product.
The identities of winning bidders will remain confidential for 21 days
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February 1, 2018
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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