Update: PUCO Approves 30% Decrease In Default Service Price Adder At Dominion East Ohio
February 12, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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PUCO approved the results of the auction described below.
Dominion East Ohio's new Retail Price Adjustment (RPA) for the period April 1, 2020 to March 31, 2021 is $0.15/Mcf
The Standard Choice Offer auction to set the Retail Price Adjustment (RPA) at Dominion East Ohio (now d/b/a Dominion Energy Ohio) for the period April 1, 2020 to March 31, 2021 saw the RPA established as $0.15/Mcf, according to a PUCO Staff auction report.
If approved, the Retail Price Adjustment will be added to the NYMEX closing price for the prompt month to set the Standard Choice Offer rate. The Standard Service Offer rate, provided to choice-ineligible customers, will be identical to the SCO rate.
The current RPA is $0.22/Mcf.
The proposed new $0.15/Mcf RPA resulted from the auction proceeding to the sealed bid round
PUCO is to address results of the auction later this week.
The SCO auction is a retail auction which assigns specific residential customers to winning suppliers (plus a portion of the residential and non-residential load ineligible for choice, such as Percentage of Income Payment Plan customers) for a one-year term.
There were nine bidders in the auction. Five bidders submitted bids in the sealed-bid round. Four bidders in the sealed bid round, in aggregate, bid to serve nine tranches (the total sought to be procured in the auction), each at a sealed bid of $0.15/Mcf. Two suppliers bid 3 tranches at that price, one bidder bid 2 tranches, and one bidder bid one tranche.
Bidders were limited to bidding on a maximum of three tranches