For Immediate Release
Contact: Matt Schilling
614 | 466 7750
PUCO accepts results of Dominion East Ohio auction
COLUMBUS, OHIO (Feb. 20, 2013) – The Public Utilities Commission of Ohio (PUCO) today approved the results of Dominion East Ohio’s combined standard choice offer (SCO) and standard service offer (SSO) auction. The auction secured natural gas supplies for Dominion’s customers for the period April 1, 2013 through March 31, 2014 and established a new retail price adjustment of 60 cents per thousand cubic feet, the same amount as the existing price adjustment.
The SCO and SSO rates change monthly and are calculated as the sum of the retail price adjustment plus the New York Mercantile Exchange (NYMEX) month-end settlement price. The price adjustment reflects the winning bidders’ estimate of their cost to deliver natural gas from the production area to Dominion’s service area.
Dominion’s SCO customers are free to enroll with an energy choice supplier, join a government aggregation buying group, or remain at the SCO rate. Customers who are already enrolled with an alternative supplier or a government aggregation group will not be affected by the change in the SCO rate; their contracts will remain the same.
Customers who are enrolled in the Percentage of Income Payment Plan (PIPP) or who are otherwise ineligible to participate in energy choice, are served at the standard service offer (SSO) rate which is identical to the SCO rate. Dominion will continue to deliver natural gas to all customers, offer payment plans, and respond to all emergency and customer service calls.
On Feb. 19, 2013, World Energy Solutions, Dominion’s auction manager, conducted a single descending clock auction to determine both the SCO and SSO rates.
Bids were submitted by 13 natural gas suppliers based on fixed adjustments to the NYMEX settlement price. The names of the winning bidders will remain confidential for 15 days to protect the suppliers’ positions in contract negotiations with pipeline companies.
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 Systems and enter the case number 07-1224-GA-EXM.
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.
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