HomeDecember 1, 2016
Ohio Accepts Price From Duke Energy Ohio Default Service Auction
Copyright 2016 EnergyChoiceMatters.com.
The Public Utilities Commission of Ohio (PUCO) accepted the results of Duke Energy Ohio’s fourth wholesale auction that will ultimately determine its retail electric generation service rates through May 2018.
During the 14-round auction, held Nov. 29, 2016, four wholesale suppliers submitted winning bids for 17 tranches of a one-year product to supply electricity to Duke’s customers, which resulted in an average clearing price of $50.20 per megawatt-hour (MWh) for the delivery period of June 1, 2017 to May 31, 2018.
This price will be blended with results from prior procurements to determine default service rates through May 2018.
There were 12 registered bidders in the auction.
The names of the winning bidders will remain confidential for 21 days.
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