For Immediate Release
Contact: Matt Schilling
(614) 466 7750
PUCO accepts results of Dominion East Ohio’s natural gas supply auction
COLUMBUS, OHIO (Feb. 19, 2014) – 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, 2014 through March 31, 2015 and established a retail price adjustment of $0.43 per thousand cubic feet (Mcf), a $0.17 decrease from 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 interested in choosing an energy choice supplier can compare rate offers using the PUCO’s online Apples to Apples comparison charts.
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 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. 18, 2014, World Energy Solutions, Dominion’s auction manager, conducted a descending clock auction to determine both the SCO and SSO rates. Bids were submitted by seven natural gas suppliers based on fixed adjustments to the NYMEX settlement price. The names of the four 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 entry is available at www.puco.ohio.gov. Click on the link to the Docketing Information System 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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