AEP Ohio auctions standard electric service through 2020
An auction to supply electricity to customers of AEP Ohio has been approved by the Public Utilities Commission of Ohio (PUCO), setting its standard service offer through May 2020.
In all, four bidders won the arrangement, resulting in an average clearing price of $46.16 per megawatt hour for the delivery period of June 2019 through May 2020. The results will be blended with previous and future auctions to determine the price-to-compare for AEP Ohio’s customers during that timeframe.
The winning bidders have not been made public yet and will remain confidential for 21 days. The auction was monitored by National Economic Research Associates, which served as the independent auction manager, and Bates White Economic Consulting, a consultant retained by PUCO.
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 group.
