Winning Prices In Pennsylvania Default Service Auction Nearly Double, Hit $140/MWh

April 21, 2022

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

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Winning prices from the April 2022 default service electricity supply procurement for the FirstEnergy Pennsylvania EDCs have nearly doubled from winning prices in a January 2022 auction, with the April 2022 auction prices for some products exceeding $140 per MWh

Specifically, winning prices at the FirstEnergy Pennsylvania EDCs in the April 2022 auction were as follows

Fixed-Price Auction
Residential 12-months (June 2022 – May 2023)

              Tranches   % Of SOS      Winning
              Procured     Load        Price ($/MWh)
Met-Ed           5        20.00%       $138.12
Penelec          4        23.53%       $132.22
Penn Power       2        28.57%       $131.28
West Penn        7        23.33%       $122.56




Fixed-Price Auction
Commercial 3-months (June – August 2022)

              Tranches   % Of SOS      Winning
              Procured     Load        Price ($/MWh)
Met-Ed           4        30.77%       $140.69
Penelec          5        35.71%       $137.83
Penn Power       2        33.33%       $142.86
West Penn        5        29.41%       $127.17




Fixed-Price Auction
Commercial 12-months (June 2022 – May 2023)

              Tranches   % Of SOS      Winning
              Procured     Load        Price ($/MWh)
Met-Ed           2        15.38%       $131.71
Penelec          2        14.29%       $131.69
Penn Power       1        16.67%       $130.60
West Penn        3        11.76%       $122.11

For comparison, for the 12-month June 2022 – May 2023 products, a January 2022 auction had generally produced prices in the $70 per MWh range (such January auction prices were already elevated versus current default service rates)

In the April 2022 auction, all of the tranches targeted for procurement were filled. The Pennsylvania PUC has accepted results of the auction

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