For Immediate Release
Contact: Jason Gilham
614 | 466 7750
PUCO approves Dominion natural gas supply auction results
COLUMBUS, OHIO (Feb. 29, 2012) – 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, 2012 through March 31, 2013 and established a new retail price adjustment of 60 cents per thousand cubic feet, a decrease of 40 cents 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 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. 28, 2012, World Energy Solutions, Dominion’s auction manager, conducted a single descending clock auction to determine both the SCO and SSO rates. The PUCO staff, Dominion, and the Office of the Ohio Consumers’ Counsel jointly monitored the auction.
Bids were submitted by 16 natural gas suppliers based on fixed adjustments to the NYMEX settlement price. The names of the three winning bidders will remain confidential for 15 days to protect the suppliers’ positions in contract negotiations with pipeline companies. Dominion will conduct its next gas supply auction in February 2013.
Additional information about the auction process and a copy of today’s Commission entry are available at www.PUCO.ohio.gov. Click on the link to the Docketing Information System and enter the case number 07-1224-GA-EXM. Customers who are interested in choosing an energy choice supplier can compare rate offers using the PUCO’s online Apples to Apples comparison charts.
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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