COLUMBUS (Feb. 28, 2018) – The Public Utilities Commission of Ohio (PUCO) today accepted the results of Duke Energy Ohio’s wholesale auction that will determine its retail generation rates through May 2021.
The auction held Feb. 27, 2018 secured one-, two- and three-year products to supply electricity to Duke’s Ohio utility customers.
The one-year product auction resulted in four winning bidders and an average clearing price of $52.87 per megawatt hour (MWh) for the delivery period of June 2018 through May 2019.
The two-year product auction resulted in four winning bidders and an average clearing price of $49.48 per megawatt hour (MWh) for the delivery period of June 2018 through May 2020.
The three-year product auction resulted in three winning bidders and an average clearing price of $49.71 per megawatt hour (MWh) for the delivery period of June 2018 through May 2021.
The results from this auction will be blended with previous and future auctions to determine Duke’s price-to-compare for the delivery period of June 1, 2018 through May 31, 2021.
CRA International served as the independent auction manager. Bates White, LLC, a consultant retained by the PUCO, monitored the auction process. The names of the winning bidders will remain confidential for 21 days.
Customers continue to have the opportunity to consider competitive options to meet their electricity needs, including shopping for an alternate supplier or joining a local government aggregation. More information about how to choose a supplier is available at www.energychoice.ohio.gov. The PUCO’s Apples to Apples rate comparison charts provide customers with a snapshot comparison of current electric supplier price options and contract terms. The charts are updated on a daily basis.
Additional information regarding the auction format is available at bidding manager’s website www.duke-energyohiocbp.com.
A copy of today’s Commission finding and order and redacted version of the report issued by the auction manager are available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and enter the case number 18-6000-EL-UNC.
The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business and industrial consumers have access to adequate, safe and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.