PUCO accepts results of AEP Ohio auction
COLUMBUS, OHIO (March 29, 2017) – The Public Utilities Commission of Ohio (PUCO) today accepted the results of AEP Ohio’s wholesale auction that will determine its standard service offer through May 2018.
During the 11-round auction, held March 28, 2017, four competitive suppliers submitted winning bids on a one-year product to supply electricity to AEP Ohio’s customers. The auction resulted in an average clearing price of $51.16 per megawatt hour (MWh) for the delivery period of June 1, 2017 to May 31, 2018.
The results will be blended with previous auctions to establish a price-to-compare for AEP Ohio’s customers during the delivery period.
National Economic Research Associates served as the independent auction manager, and 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 group. More information about how to choose a supplier is available at www.energychoice.ohio.gov. The PUCO’s Apples to Apples comparison charts provide customers with a snapshot comparison of current electric supplier offers and contract terms. The charts are updated daily.
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 15-792-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.
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