HomeJanuary 30, 2014
Ohio Approves Results from Auction Determining FirstEnergy EDCs' Default Service Rate
Copyright 2014 EnergyChoiceMatters.com.
The Public Utilities Commission of Ohio (PUCO) has approved the results of the FirstEnergy utilities’ eighth wholesale auction that will ultimately determine its default retail generation service rates through May 2016.
The auction included 12 and 24-month tranches.
For the 16 one-year tranches, the auction resulted in an average clearing price of $55.83 per megawatt-hour for the delivery period June 1, 2014 through May 31, 2015.
For the 17 two-year tranches, the auction resulted in an average clearing price of $68.31 per megawatt-hour for the delivery period June 1, 2014 through May 31, 2016.
These results will be blended with previous auctions, and two upcoming auctions to establish default retail generation rates from June 1, 2014 through May 31, 2016.
Five suppliers submitted winning bids for the one-year product, and four suppliers submitted winning bids for the two-year product
The names of the winning bidders will remain confidential for 21 days.
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