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Vectren Ohio Default Service Retail Adder To Decrease On April 1
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Vectren Energy Delivery of Ohio's (CenterPoint's) Standard Choice Offer auction conducted on January 25, 2021 resulted in a Retail Price Adjustment (RPA) of $1.07 per Mcf for the period April 1, 2022 through March 31, 2023.
That's lower than the current RPA of $1.16 per Mcf, but is still elevated from the 2020-21 RPA of $0.75 per Mcf
PUCO has approved the results of the auction
In a post-auction report, PUCO Staff noted the potential impact of a TC Energy FERC Rate Case on the SCO Auction
"On July 31, 2020, TC Energy Corporation (TC Energy) filed a Rate Case at FERC. In its filing TC Energy proposed an overall increase of approximately seventy-eight percent for the transmission and storage assets that could have an impact on CenterPoint’s system. The rate proposed by TC Energy became effective on February 1, 2021. On November 16, 2021 the FERC issued an Order for the interim settlement rates to be implemented on December 1, 2021 with a FERC decision expected in mid-2022. Prior to the auction, it was anticipated that the TC Energy rate charges could impact the RPA for the CenterPoint’s 2022 auction which was held on January 24, 2022. Below are the results of this year’s auction," Staff said
Under the SCO auction, winning suppliers will directly serve non-shopping, choice-eligible customers won through the auction for the period April 1, 2022 through March 31, 2023 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.
The 2022 auction proceeded to a sealed bid round, with four winning bidders. There were four winning bidders in the year-ago auction as well
Winning bidder identities will remain confidential for 15 days.
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January 26, 2022
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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