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PUCO Approves FirstEnergy’s Petition To Modify Default Service Auction
In a Finding & Order the Public Utilities Commission of Ohio approved the FirstEnergy Ohio utilities’ request for certain changes in their PUCO-approved default service auctions under their current electric security plan (ESP V), which was approved by PUCO, with modifications, in May of this year.
As previously reported, due to PUCO’s establishment of a five-year ESP (rather than 8 years as proposed by the utilities), the FirstEnergy Ohio EDCs proposed two new auctions schedules, depending on whether, on rehearing, PUCO approves a three-year ESP that is now being sought by the FirstEnergy EDCs, or a five-year ESP as previously ordered.
PUCO in an August 21st ruling did not address these separate petitions for rehearing nor did PUCO set the term of the ESP.
PUCO said that each proposed specific SSO auction schedule (and attendant changes in tranches procured and product term lengths) may be followed as applicable if PUCO sets the ESP term length accordingly (i.e., if PUCO sets a 3-year ESP, the FE EDCs’ proposed 3-year auction schedule has been approved; and if PUCO sets a 5-year ESP, the FE EDCs’ proposed 5-year auction schedule has been approved)
PUCO also approved moving a summer 2024 procurement to October 2024. The products to be procured under the October 2024 procurement are the same under both EDUs’ proposed ESP term length auction schedules.
FirstEnergy Ohio EDCs will now procure 25 tranches of a 12-month SSO product in the October 2024 auction.
Under the schedule changes, the default service portfolio will still be limited to only 12 and 24-month products, as is the case currently.
The FirstEnergy Ohio utilities had said that the delay in the summer 2024 auction to October 2024 is necessary, “[d]ue to the time necessary to implement the May 15, 2024, ESP V Order, including Commission-authorized changes to the Companies’ competitive bidding process, and to conduct pre-auction activities[.]”
Finding & Order (08/21/2024)
24-133-EL-UNC (02/13/2024)
In the Matter of the Procurement of Standard Service Offer Generation as Part of the Fifth Electric Security Plan for Customers of Ohio Edison Company
