Default Service Procurement Leaves Small C&I Tranches Unfilled; Reserve Procurement Set

The October 2022 procurement for Type I SOS supplies at Baltimore Gas & Electric failed to attract any offers below the Price Anomaly Threshold (PAT).

Per RFP rules, a reserve procurement is planned for October 31 to fill this remaining supply need.

The original RFP had sought 52.8 MW of Type I supply covering the June 1, 2023 to May 31, 2025 time frame (which represents a portion of the supply for that period)

All other tranches in the RFP were filled, and all other average winning prices came in below the PAT.

For the entire RFP covering all Maryland IOUs, there was approximately 2.9MW bid for every MW needed. This is lower than last April's RFP, which saw 3.5 MW bid for every block needed overall.

The Maryland PSC approved the results of the procurement, and scheduled the reserve procurement noted above