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PUCO Accepts Results Of Centerpoint Energy Ohio’s Natural Gas Supply Auction
The Public Utilities Commission of Ohio (PUCO) accepted the results of CenterPoint Energy Ohio’s auction for its standard choice offer (SCO). The auction secured natural gas supplies for CenterPoint’s customers from April 1, 2024 to March 31, 2025 and established a retail price adjustment of $0.13 per hundred cubic feet (ccf). This year’s retail price adjustment is $0.03 per ccf more than the 2023 retail price adjustment.
CenterPoint’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 CenterPoint’s service area.
The SCO will apply to CenterPoint’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. Customers who are interested in choosing an energy choice supplier can compare rate offers by visiting the PUCO’s Energy Choice Ohio website at www.energychoice.ohio.gov.
On Jan. 22, 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.
