Retail Price Adjustment for Standard Choice Offer Customers at Vectren to Decrease
January 16, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Vectren Energy Delivery of Ohio's Standard Choice Offer auction conducted on January 15, 2019 resulted in a Retail Price Adjustment of $0.85 per Mcf for the period April 1, 2019 through March 31, 2020 ($0.085 per ccf)
PUCO is to consider the auction results at its meeting today
The current Retail Price Adjustment is $0.87 per Mcf
Under the SCO auction, winning suppliers will directly serve non-shopping, choice-eligible customers won through the auction for the period April 1, 2019 through March 31, 2020 at a price equal to the Retail Price Adjustment, fixed for the 12-month term, plus the NYMEX prompt month settlement price for gas. Winning bidders also provide a proportional share of the volumes required to serve choice-ineligible customers under Default Sales Service.
Nine tranches of customers were available in the auction, and bidders were limited to winning a maximum of three tranches.
Six bidders made bids in the auction, versus seven bidders in the year-ago auction.
The auction proceeded to a sealed bid round.
There were three winning bidders in the January 2019 auction, with each supplier winning 3 tranches each
Identities will remain confidential for 15 days.
For comparison, there were five winning bidders in the January 2018 auction, with two suppliers winning 3 tranches each, and with three suppliers winning 1 tranche each