Default Service Price Adder At Dominion East Ohio More Than Doubles For 2023-24

February 7, 2023

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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The Standard Choice Offer auction to set the Retail Price Adjustment (RPA) at Dominion East Ohio (now d/b/a Dominion Energy Ohio) for the period April 1, 2023 to March 31, 2024 resulted in an RPA of $0.39 per Mcf, which is more than double the current RPA of $0.18/Mcf

PUCO is to address the auction results at its meeting this week

The Retail Price Adjustment will be added to the NYMEX closing price for the prompt month to set the Standard Choice Offer rate. The Standard Service Offer rate, provided to choice-ineligible customers, will be identical to the SCO rate.

The 2023-24 RPA of $0.39 per Mcf resulted from the auction proceeding to a sealed bid round

The SCO auction is a retail auction which assigns specific residential customers to winning suppliers (plus a portion of the residential and non-residential load ineligible for choice, such as Percentage of Income Payment Plan customers) for a one-year term.

There were 8 bidders in the auction. Six bidders submitted bids in the sealed-bid round and were awarded tranches. One bidder won 3 tranches; one bidder won 2 tranches, and four bidders won a single tranche each.

Bidders were limited to bidding on a maximum of three tranches

The names of the winning bidders will remain confidential for approximately 15 days

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