HomeOctober 25, 2012
FirstEnergy Ohio Default Service Auction Sees Higher Price; Capacity Costs Cited
Copyright 2012 EnergyChoiceMatters.com.
The Public Utilities Commission of Ohio approved the results of the FirstEnergy utilities' fifth wholesale default supply auction that will ultimately determine default service generation rates through May 2016
The auction resulted in an average clearing price of $60.89 per megawatt hour for the delivery period June 1, 2013 through May 31, 2016.
"While the clearing price is higher than previous auctions, it is important to note that capacity prices will be higher as a result PJM's most recent reliability pricing model auction," PUCO said in a news release.
The results will be blended with four previous auctions, and five upcoming auctions to establish retail generation rates from June 1, 2013 through May 31, 2016
Five wholesale suppliers won tranches in the auction.
The names of the winning bidders will remain confidential for 21 days
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