Staff Posts Results of Vectren Standard Choice Offer Auction

Vectren's Standard Choice Offer auction conducted on January 31, 2012 resulted in a Retail Price Adjustment of $1.05 per Mcf for the period April 1, 2012 through March 31, 2013.

PUCO is to address approval of the auction results today.

Under the SCO auction, winning suppliers will directly serve non-shopping, choice-eligible customers won through the auction for the period April 1, 2012 through March 31, 2013 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.

Six tranches of customers were available in the auction, and bidders were limited to winning a maximum of two tranches. Seven bidders participated in the auction, which is an increase of one from the year-ago auction.

There were three winning bidders in the auction. Identities will remain confidential for 30 days.

Last year's auction also produced three winning bidders.

World Energy Solutions conducted the descending clock auction.