Ohio Staff Posts Price from Auction to Set Standard Choice Offer Rate at Dominion East Ohio

Staff of the Public Utilities Commission of Ohio have filed the Retail Price Adjustment resulting from Dominion East Ohio's Standard Choice Offer auction, for default service for the period April 1, 2013 to March 31, 2014.

The SCO auction for the April 1, 2013 to March 31, 2014 term resulted in a Retail Price Adjustment of $0.60 per Mcf. That is identical to the current Retail Price Adjustment.

The results from the 2013-14 SCO auction remain subject to PUCO approval. If approved, the Retail Price Adjustment will be added to the NYMEX closing price for the prompt month to set the Standard Choice Offer rate. The Standard Service Offer rate, provided to choice-ineligible customers, will be identical to the SCO rate.

The 2013-14 SCO auction is the first which excluded choice-eligible non-residential customers, who starting on April 1, 2013 are defaulted, on a rotating basis, to a retail supplier offering a monthly variable rate for default supply, and may not take SCO service. See prior story for more on end of SCO default service for choice-eligible non-residential customers at DEO

The SCO auction is a retail auction which assigns specific residential customers to winning suppliers (plus a portion of the residential and non-residential load ineligible for choice, such as Percentage of Income Payment Plan customers) for a one-year term.

The auction produced five winning bidders among 13 participants.

The SCO auction was conducted by World Energy Solutions, Inc.