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Delmarva Delaware SOS Auction Prices Higher Than 2017 RFP For All Customers, But Residential 17% Lower Than Legacy Contract Being Replaced
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The Delaware PSC recently released an auction report for Delmarva Power's procurement of electric SOS supplies in Delaware
The auction prices from the 2017-18 Delmarva procurement are higher than last year's procurement, largely due to higher capacity prices.
However, Residential and Small C&I prices (RSCI) for the auctions held during 2017-18 (for delivery starting January 1, 2018) were 17% lower than prices for tranches from the 2014-2015 auction, which are being replaced
Due to a transition from a three-year blended portfolio to a two-year blended portfolio for residential and small commercial (RSCI) SOS at Delmarva in Delaware (effective in 2020), the 2017-18 RFP for small volume customers procured a one-year product (as opposed to three-year products in the past, so pricing is not an apples to apples comparison between years).
The average winning prices from the 2017-18 RFP (for delivery starting January 1, 2018) were as follows:
Prices do not reflect transmission, the procurement cost adjustment, renewable portfolio costs, and the reasonable allowance for retail margin.
In contrast, results from the 2014-15 RFP, whose contracts are being replaced (for mass market customers), and the 2015-16 and 2016-17 RFPs are below ($/MWh):
The 2017-18 residential/small commercial price of $65.24/MWh will be blended with the existing portfolio, with one-third of supply at the new price, one-third at the 2015-16 price of $63.60/MWh, and one-third at the 2016-17 price of $58.21/MWh.
The 2017-18 RFP saw six bidders participate, the same amount as 2016-17. The winning bidders from the 2017-18 procurement were Direct Energy, Exelon, NextEra, and Vitol
The percent of load, by customer class, to be served by each supplier for the 2018-19 delivery year is below (including suppliers winning tranches in prior-year auctions for a portion of 2018-19 small customer load):
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Winning Suppliers Identified
March 6, 2018
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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
Customer Type 2017-18 RFP
RSCI $65.24
MGS $59.46
LGS $56.53
GS-P $52.07
Customer 2014-15 RFP 2015-16 RFP 2016-17 RFP
RSCI $82.18 $63.60 $58.21
MGS N/A N/A $54.70
LGS N/A N/A $51.71
GS-P N/A N/A $50.20
Supplier RSCI MGS LGS GS-P
BTG Pactual 7%
Direct Energy 33%
DTE 13%
Exelon 13% 33% 100% 100%
NextEra 20%
TransCanada 47%
Vitol 33%
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