Update: PUCO Approves Decrease In Columbia Gas Of Ohio Default Service Retail Adder

Update, 1/31: PUCO approved the auction results and a retail price adjustment (RPA) of $0.118 per hundred cubic feet (ccf) for Columbia’s SCO customers for the period April 1, 2019 through March 31, 2020, as discussed below.

Earlier:

An auction to determine the Retail Price Adjustment (RPA) for the Standard Choice Offer at Columbia Gas of Ohio resulted in an RPA of $1.18 per Mcf, for the period April 1, 2019 to March 31, 2020 ($0.118 per ccf.).

PUCO is set to address the auction results at today's meeting.

The current RPA at Columbia is $1.23 per Mcf.

The Retail Price Adjustment will be added to the NYMEX closing price for the prompt month to set the Standard Choice Offer rate.

The SCO auction is a retail auction which assigns specific customers to winning suppliers (plus a portion of the load ineligible for choice, such as Percentage of Income Payment Plan customers) for a one-year term.

The 2019-20 auction produced 6 winning bidders from 11 bidders who submitted a bid. Three suppliers won 4 tranches each; one supplier won 3 tranches, and two suppliers won 1 tranche each.

The identities of the winning bidders will remain confidential for 15 days.

In last year's auction, there were 8 winning bidders from 9 bidders who submitted a bid. In last year's auction, three suppliers won 4 tranches each; one supplier won 2 tranches, and four suppliers won 1 tranche each.