Met-Ed, Penelec, Penn Power Post Default Service Procurement Results

Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec) and Pennsylvania Power Company (Penn Power) have posted results from their January 2012 default service procurement.

For residential customers at Met-Ed, the auction procured 3 tranches of full requirements supply (3.57% of load each) for the period June 1, 2012 to May 31, 2013 at an average price of $56.19/MWh. All prices in this story have not been adjusted for Gross Receipt Taxes, procurement-related administrative costs, or distribution losses.

For residential customers at Penelec, the auction procured 3 tranches of full requirements supply (4.76% of load each) for the period June 1, 2012 to May 31, 2013 at an average price of $50.62/MWh.

For residential customers at Penn Power, the auction procured 2 tranches of full requirements supply (12.50% of load each) for the period June 1, 2012 to May 31, 2013 at an average price of $41.25/MWh.

For commercial customers (served on secondary voltage – generally up to 400 kW) at Met-Ed, the auction procured 6 tranches of full requirements supply (4.35% of load each) for the period June 1, 2012 to May 31, 2013 at an average price of $56.17/MWh.

For commercial customers (served on secondary voltage – generally up to 400 kW) at Penelec, the auction procured 5 tranches of full requirements supply (5.00% of load each) for the period June 1, 2012 to May 31, 2013 at an average price of $51.25/MWh.

For commercial customers (served on secondary voltage – generally up to 400 kW) at Penn Power, the auction procured 3 tranches of full requirements supply (14.30% of load each) for the period June 1, 2012 to May 31, 2013 at an average price of $41.97/MWh.

The FirstEnergy EDCs also posted sample calculations for default service rates which incorporate the results of the auctions, available here