Ohio Accepts Results From May Duke Energy Ohio Default Service Auction

The Public Utilities Commission of Ohio (PUCO) accepted the results of Duke Energy Ohio's first wholesale auction that will ultimately determine its retail electric generation service rates for the period June 1, 2015 through May 31, 2018.

The results from this auction will be used to determine Duke's generation rate for the delivery period of June 1, 2015 to May 31, 2016, in addition to various bypassable riders. This auction, along with future auction results will be combined to determine rates through May 2018.

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         $58.79
June 1, 2015 - May 31, 2017         $57.60
June 1, 2015 - May 31, 2018         $59.17

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

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