Retail Price Adjustment for Standard Choice Offer Customers at Vectren to Decrease 17%

Update 1/19: PUCO has approved the results of the auction as described below

Jan 18:

Vectren Energy Delivery of Ohio's Standard Choice Offer auction conducted on January 17, 2017 resulted in a Retail Price Adjustment of $1.00 per Mcf for the period April 1, 2017 through March 31, 2018.

PUCO is to address approval of the auction results today.

The current Retail Price Adjustment is $1.20 per Mcf.

Under the SCO auction, winning suppliers will directly serve non-shopping, choice-eligible customers won through the auction for the period April 1, 2017 through March 31, 2018 at a price equal to the Retail Price Adjustment, fixed for the 12-month term, plus the NYMEX prompt month settlement price for gas. Winning bidders also provide a proportional share of the volumes required to serve choice-ineligible customers under Default Sales Service.

Nine tranches of customers were available in the auction, and bidders were limited to winning a maximum of three tranches.

Six bidders made bids in the auction, versus five bidders in the year-ago auction.

There were four winning bidders in the January 2017 auction, with two suppliers winning 3 tranches each, one supplier winning 2 tranches, and one supplier winning 1 tranche

Identities will remain confidential for 15 days.

Last year's auction also produced four winning bidders.