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Prices Remain Elevated In Latest Pennsylvania Default Service Auction
The following story is brought free of charge to readers by EC Infosystems, the exclusive EDI provider of EnergyChoiceMatters.com
Winning prices in a June 2022 default service auction for the Pennsylvania FirstEnergy EDCs remained at elevated levels, though they have eased a bit versus the April 2022 procurement
The June 2022 auction was only for a portion of commercial default service supplies for the period September to November 2022
Specifically, winning prices at the FirstEnergy Pennsylvania EDCs in the June 2022 auction were as follows:
For comparison, winning commercial prices from the April 2022 procurement were as follows (the auction included 12 and 3-month products)
For further comparison, a January 2022 auction for part of the 12-month June 2022 to May 2023 commercial supply had generally produced prices in the $70 per MWh range (such January auction prices were already elevated versus then-current default service rates)
In the June 2022 auction, all of the tranches targeted for procurement were filled. The Pennsylvania PUC has accepted results of the auction
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June 29, 2022
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
June 2022
Fixed-Price Auction
Commercial 3-months (September – November 2022)
Tranches % Of SOS Winning
Procured Load Price ($/MWh)
Met-Ed 4 30.77% $122.81
Penelec 5 35.71% $122.88
Penn Power 2 33.33% $135.72
West Penn 5 29.41% $112.03
April 2022
Fixed-Price Auction
Commercial 3-months (June – August 2022)
Tranches % Of SOS Winning
Procured Load Price ($/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
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