Ohio Adopts Pricing From FirstEnergy EDCs' October Default Service Auction

The Public Utilities Commission of Ohio (PUCO) accepted the results of the FirstEnergy EDCs' October wholesale auction that, when blended with other supplies, will ultimately determine its Standard Service Offer through May 2018.

The auction, which procured 16 tranches, resulted in a tranche-weighted average price of winning bids of $49.64 per megawatt-hour (MWh) for the delivery period of June 1, 2017 to May 31, 2018. The results will be blended with previous and future auctions to establish a price-to-compare for FirstEnergy Ohio EDC customers during the delivery period.

There were five winning bidders, from 10 registered bidders

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