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PUCO accepts results of Duke Energy Ohio’s auction

COLUMBUS, OHIO (Nov. 30, 2016) – The Public Utilities Commission of Ohio (PUCO) today accepted the results of Duke’s fourth wholesale auction that will ultimately determine its retail generation service rates through May 2018.

The results from this auction will be used to determine Duke’s price-to-compare for the delivery period of June 1, 2017 through May 31, 2018. This auction, along with previous and future auction results will be combined to determine rates through May 2018.

During the 14-round auction, held Nov. 29, 2016, four competitive suppliers submitted winning bids for a one-year product to supply electricity to Duke’s customers, which resulted in an average clearing price of $50.20 per megawatt hour (MWh) for the delivery period of June 1, 2017 to May 31, 2018.

CRA International served as the independent auction manager. 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. More information about how to choose a supplier is available at www.energychoice.ohio.gov. The PUCO’s Apples to Apples rate comparison charts provide customers with a snapshot comparison of current electric supplier price options and contract terms. The charts are updated on a daily basis.

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 15-6000-EL-UNC.

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