Ohio Accepts Clearing Price from Duke Energy Ohio Default Service Auction

The Public Utilities Commission of Ohio accepted the results of the November 2012 Standard Service Offer auction at Duke Energy Ohio, which procured a portion of default service supplies for the period June 1, 2013 to May 31, 2015.

The auction resulted in a tranche-weighted average price of winning bids of $50.56 per MWh.

This clearing price will not immediately impact customer bills but will be blended with prices received in the December 2011 and May 2012 auctions and upcoming auctions to determine the generation prices paid by customers from June 1, 2013 through May 31, 2015.

Twelve suppliers registered for the auction, and four submitted winning bids for a total of 16 tranches.

CRA International served as the independent auction manager. Boston Pacific Company and the PUCO staff monitored the auction process. The names of the winning suppliers will be released by the PUCO on Dec. 7, 2012