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PUCO Accepts Results Of Columbia Gas Of Ohio’s Natural Gas Supply Auction
Re: In the Matter of the Procurement of Natural Gas Supply for the Standard Choice Offer Customers of Columbia Gas of Ohio, Inc.
The Public Utilities Commission of Ohio (PUCO) accepted the results of Columbia Gas of Ohio’s auction for its standard choice offer (SCO). The auction secured natural gas supplies for Columbia’s customers from April 1, 2024 to March 31, 2025 and established a retail price adjustment of $0.166 per hundred cubic feet (ccf). This year’s retail price adjustment is $0.014 less than the 2023 retail price adjustment.
Columbia’s SCO rate changes monthly and is calculated as the sum of the retail price adjustment, plus the New York Mercantile Exchange (NYMEX) month-end settlement price. The price adjustment reflects the winning bidders’ estimate of their cost to deliver natural gas from production areas to Columbia’s service area.
The SCO will apply to Columbia’s choice-eligible customers that have not selected an alternative supplier. Choice-eligible customers will continue to have the option to enroll with an energy choice supplier of their choosing, join a government aggregation buying group or remain on the SCO.
On Jan. 23, 2024, a single auction was conducted to establish the rate for the SCO customers. Bids were submitted by natural gas suppliers based on fixed adjustments to the NYMEX settlement price. The names of the winning bidders will remain confidential for 15 days to protect the suppliers’ positions in contract negotiations with pipeline companies.
Memorandum In Support (01/24/2024)
Staff Report (01/23/2024)
24-121-GA-UNC (01/02/2024)
