Ohio Accepts Results From AEP Ohio Default Service Auction

The Public Utilities Commission of Ohio (PUCO) approved the results of AEP Ohio's first wholesale auction that will, along with other auctions, ultimately determine its default service retail generation service rates for the period June 1, 2015 through May 2018.

The April 2015 auction produced the following average clearing prices for full requirements service, excluding renewables compliance ($/MWh):

Term                                 Price
June 1, 2015 - May 31, 2016         $53.79
June 1, 2015 - May 31, 2017         $53.51
June 1, 2015 - May 31, 2018         $55.58

The names of the winning bidders will remain confidential for 21 days.

There were five winning bidders for the 12-month product, seven winning bidders for the 24-month product, and five winning bidders for the 36-month product.