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PUC Stays Requirement For Utilities To Modify Default Service Procurements To Hold "Dual Auctions" (Separate Energy & Capacity Procurements)
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The Public Utilities Commission of Ohio "indefinitely" stayed a prior order that the electricity utilities shall modify their Standard Service Offer (SSO) procurement process to hold "dual auctions" due to prior uncertainty in the PJM capacity market
As previously reported, due to the delay in several PJM capacity auctions, PUCO had directed the utilities to both:
(1) hold their traditional full requirements auctions with a proxy price for capacity,
(2) conduct an energy-only auction and a capacity-only hedge product.
PUCO would then have compared the two auction results in approving the procurements
See our prior story for further details on the dual SSO auctions
With a schedule for the resumption of PJM's base residual capacity auctions (BRA) now set, PUCO indefinitely stayed the prior order to hold the dual SSO auctions
PUCO directed the utilities to file, within 60 days, new schedules to conduct their traditional full requirements* SSO auctions based on the updated BRA schedule, "consistent with the provisions for
staggering and laddering auctions contained in the ESPs [electric security plans]." (*Such auctions are generally 'full requirements' insofar as they include energy and capacity, though they may not necessarily include renewable compliance)
"Nonetheless, if these new
developments regarding the capacity auctions are negatively impacted by ongoing litigation
in the Federal Court of Appeals, the Commission may reconsider the stay and require the
filing of dual auction plans," PUCO said
PUCO otherwise broadly denied rehearing of its prior dual auction order
Case 16-776-EL-UNC, 17-957-EL-UNC, 17-2391-EL-UNC, 18-6000-EL-UNC
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February 25, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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