Ohio Staff Posts Price from Auction to Set Standard Choice Offer Rate at Columbia Gas

Staff of the Public Utilities Commission of Ohio have filed the Retail Price Adjustment resulting from Columbia Gas' 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 $1.29 per Mcf. Last year's auction produced an RPA of $1.53, but the prior-year RPA would have been $1.21 had the balancing fee been removed and billed directly to customers, as will be the case starting April 1, 2013.

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

The auction produced six winning bidders among 11 participants.

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