Ohio Accepts Results From May AEP Ohio Default Service Auction

The Public Utilities Commission of Ohio (PUCO) approved the results of AEP Ohio's second 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 results from this auction, combined with the prices from the auction held April 28, 2015, will be blended to create AEP Ohio's generation rate for the delivery period of June 1, 2015 to May 31, 2016.

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

Term                                 Price
June 1, 2015 - May 31, 2016         $55.42
June 1, 2015 - May 31, 2017         $54.70
June 1, 2015 - May 31, 2018         $56.35

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

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

Click here for average clearing prices from the recent April 2015 auction which will be blended with the prices above.