For Immediate Release
Contact:  Matt Schilling
614 | 466 7750

PUCO accepts results of Duke electricity auction

COLUMBUS, OHIO (May 23, 2012) – The Public Utilities Commission of Ohio (PUCO) today approved the results of the second of five wholesale auctions that will ultimately determine Duke Energy Ohio’s electric generation rates through May 2015.

During yesterday’s 12-round auction, competitive suppliers submitted bids for the opportunity to provide electricity to Duke customers. Eleven suppliers registered for the auction, and three submitted winning bids that resulted in a clearing price of $52.14 per megawatt hour. This clearing price will not immediately impact customer bills but will be blended with prices received in December 2011 auction and upcoming auctions to determine the generation prices paid by customers from June 1, 2013 through May 31, 2015. 

CRA International served as the independent auction manager. Boston Pacific Company and the PUCO staff monitored the auction process. The names of the winning suppliers will be released by the PUCO on June 13, 2012.

Today’s Commission finding and order and a redacted version of the report issued by the auction manager will be available later today at www.PUCO.ohio.gov. Click on the link to DIS, and enter case number 11-6000-EL-UNC.

-30-
11-6000-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.

Subscribe and unsubscribe to the PUCO Media Release email service