Winning Prices Spike In Default Service Auctions At Two Utilities

March 9, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Winning wholesale prices spiked in default service auctions held this month at the FirstEnergy Ohio utilities and AEP Ohio

At the FirstEnergy Ohio utilities, a March 2022 auction for 34 tranches of SSO supply for the period June 1, 2022 to May 31, 2023 resulted in a tranche-weighted average price of winning bids of $68.11 per MWh

For comparison, an October 2021 auction at the FirstEnergy Ohio utilities for 33 trances of SSO supply for the period June 1, 2022 to May 31, 2023 had resulted in a tranche-weighted average price of winning bids of $50.21 per MWh. Additionally, an August 2021 auction at the FirstEnergy Ohio utilities for 33 trances of SSO supply for the period June 1, 2022 to May 31, 2023 had resulted in a tranche-weighted average price of winning bids of $42.10 per MWh

At AEP Ohio, a March 2022 auction for 50 tranches of SSO supply for the period June 1, 2022 to May 31, 2023 resulted in a clearing price of $69.27 per MWh.

For comparison, a November 2021 auction at AEP Ohio for 50 tranches of SSO supply for the period June 1, 2022 to May 31, 2023 had resulted in a clearing price of $55.14 per MWh.

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