The PublicUtilities Commission of Ohio has approved FirstEnergyCorp.'s wholesale auction results, which will determine its standardservice offer through May 31, 2019.
Duringthe April 13 auction, competitive suppliers submitted bids on one-, two- and three-yearproducts to supply electricity to First Energy's Ohio utility customers, accordingto an April 14 news release.
The auctionresulted in average clearing prices of $48.46/MWh for the June 1, 2016-May 31, 2017period; $49.36/MWh for the June 1, 2016-May 31, 2018 period; and $50.49 per MWhfor the June 1, 2016-May 31, 2019 period.
The nameof the winning bidders will remain confidential for 21 days, PUCO said.
CRA Internationalserved as the independent auction manager, and Boston Pacific Co., a consultantretained by the PUCO, monitored the auction process. (Case No. 16-0776-EL-UNC)