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FirstEnergy Pennsylvania Utilities Post Auction Results, Sample Default Service Rate Calculation
April 4, 2011
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Met-Ed, Penelec, and Penn Power have announced results from their March solicitation for full requirements default service electric supplies, and have also posted sample calculations for default service rates which incorporate the results of the auctions held so far.
The March solicitation sought fixed price supply for residential and commercial customers, as well as hourly supply for Penn Power industrial customers. The results of the hourly supply auction were rejected by the PUC and the unfilled tranches will not be rebid. Penn Power will procure supply for default service industrial customers from the PJM market in accordance with its default service program approved by the Commission.
The auction procured 12-month commercial contracts at each utility, and both 12 and 24-month residential contracts at each utility. Average winning prices by utility and product type are available here.
The listed prices have not been adjusted for Gross Receipt Taxes, procurement-related administrative costs, or distribution losses.
The utilities also posted, for Met-Ed and Penelec, updated sample calculations of default service rates resulting from the recent auction and prior auctions for the relevant period. The sample calculations may be accessed at the utilities' supplier support website (See "Model for calculating Default Service Rates" for each utility).
FirstEnergy said that the Met-Ed and/or Penelec calculation process can be used as a proxy for how the calculation is done at Penn Power, until the Penn Power document describing the methodology becomes available and posted on the web site.
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