PUCO accepts results of DP&L auction

Business
By Dave Larsen
Sept 26, 2014
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The Public Utilities Commission of Ohio has approved the results of Dayton Power & Light Co.’s second wholesale auction that will ultimately determine its retail generation service rates through May 2017, according to a media release.

During the 20-round auction, held Sept. 23, two competitive suppliers submitted winning bids for the opportunity to provide electricity to DP&L customers. The auction resulted in an average clearing price of $62.08 per megawatt hour for 50 percent of DP&L’s standard service offer load for the delivery period of January 2015 through May 2017.

In September 2013, PUCO modified and approved DP&L’s application to establish an electric security plan, effective through May 2017. PUCO officials said the approved plan will move DP&L toward a fully competitive market-based structure.

During the term of the plan, DP&L will conduct auctions for 10 percent of its standard service offer load for the period of Jan. 1 , 2014 to May 31, 2017; 50 percent for the period of Jan. 1, 2015 to May 31, 2017; and 40 percent for the period of Jan. 1, 2016 to May 31, 2017.

At the end of the plan, the company is expected to have divested all of its generation assets, officials said.

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About the Author

Dave Larsen