Utility Seeks Approval For Alternative Supplier To Serve PIPP Customers

Duke Energy Ohio sought approval to select, from the results of an RFP, LE Energy LLC d/b/a Utility Gas and Power as the alternative supplier to serve Percentage of Income Payment Plan (PIPP) customers for the term April 2023 to March 2025

Under its periodic process to select a PIPP supplier, Duke Energy Ohio requested proposals to deliver natural gas volumes to Duke Energy Ohio on behalf of the PIPP customer class for a one-, two-, and three-year period beginning April 1, 2023.

Suppliers bid an adder to the monthly NYMEX closing price.

Duke recommended selecting Utility Gas & Power's bid of an adder of $1.40 per MMBtu for the term April 2023 to March 2025

Duke Energy Ohio received the following bids for the adder ($ per MMBtu):

Bidder                 Proposed  Term            Adder
Utility Gas & Power    April 2023 – March 2024   $1.40
NRG                    April 2023 – March 2024   $1.76
Utility Gas & Power    April 2023 – March 2025   $1.40
Utility Gas & Power    April 2023 – March 2026   $1.45

Utility Gas & Power is currently serving as the PIPP supplier after being selected, via an RFP, for a three-year term starting in April 2020