Update: New Jersey Discloses Winning BGS Auction Suppliers

The New Jersey BPU has reported winning suppliers in the recent BGS auctions.

Winners were not immediately available when Matters first reported price results of the auction yesterday.

The winning bidders of the Fixed Price (FP) Auction were:

• BP Energy Company
• Energy America, LLC
• Exelon Generation Company, LLC
• Macquarie Energy LLC
• Morgan Stanley Capital Group Inc.
• NextEra Energy Power Marketing, LLC
• PSEG Energy Resources & Trade LLC
• TransCanada Power Marketing Ltd.

The BGS-CIEP Auction winners were:

• ConocoPhillips Company
• Dominion Retail, Inc.
• DTE Energy Trading, Inc.
• Exelon Generation Company
• PPL EnergyPlus, LLC
• PSEG Energy Resources & Trade LLC

As previously reported, the 2013 Fixed Price auction, for one-third of the supply to serve default service customers under 500 kW for the three year period starting June 1, 2013, resulted in a closing price as follows (¢/kWh):

Atlantic City Electric:           8.727
Jersey Central Power & Light:     8.370
Public Service Electric & Gas:    9.218
Rockland Electric:                9.258

The average winning price obtained in this year’s FP auction ($0.08872 per kWh) is approximately 8% lower than the expiring price from the 2010 auction, which this year’s auction results replace. These prices only affect a portion of the cost of electricity for residential customers. Therefore, the auction will result in relatively small changes in overall residential electric bills, the BPU said.

For example, a typical residential customer’s monthly bill, based on usage of 650 kWh, in Atlantic City Electric’s service area will drop 5.3% from $119.99 to $113.57 per month. In Public Service Electric and Gas’s (PSE&G) service area, the average residential monthly bill remains stable with a very slight increase of $0.06 due mostly to transmission reliability projects deemed necessary by regional grid operator PJM and ordered by the Federal Energy Regulatory Commission (FERC), the BPU said

The 2013 CIEP Auction, for customers over 500 kW on hourly service, resulted in a closing price ($/MW-day) as follows, which is added to hourly energy prices:

Atlantic City Electric:           265.33
Jersey Central Power & Light:     265.00
Public Service Electric & Gas:    269.29
Rockland Electric:                365.00