Ohio Accepts Results of AEP Ohio Default Service Auction

The Public Utilities Commission of Ohio approved the results of AEP-Ohio's second energy-only auction that will ultimately determine its retail generation service rates through May 2015.

The auction resulted in an average clearing price of $50.00 per megawatt-hour for 25% of AEP-Ohio's standard service offer (SSO) energy requirements for the delivery period November 2014 through May 2015. The auction product was for energy only, and did not include capacity

Six suppliers submitted winning bids for the seven-month product; 11 suppliers participated in the auction.

In September 2014, AEP-Ohio will conduct an additional energy-only auction for 25 percent of its SSO energy requirements, to be delivered November 2014 through May 2015. A fourth energy-only auction will occur in November 2014 for the remaining 40 percent of AEP-Ohio's SSO energy requirements, to be delivered January 2015 through May 2015.