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Bates White certifies results of New Jersey, Ohio energy supply auctions
Bates White Energy Practice staff monitored the results of two auctions for electricity supply requirements for New Jersey ratepayers; these auctions secure one-third of the electricity supply requirement for all New Jersey ratepayers who do not choose a competitive supplier. The firm’s work was done on behalf of the New Jersey Board of Public Utilities. Working with the Division of Energy, Bates White had previously monitored the process leading to the auctions, providing comments on auction design, bidder qualification, and related issues. The firm reviewed the procurements and recommended acceptance of the auction results. Bates White also reviewed and audited models that translate auction results into customer rates.
In late March, on behalf of the Public Utilities Commission of Ohio, Bates White monitored AEP’s Ohio wholesale auction, which determines, in part, the price of electricity for the delivery period June 1, 2017–May 31, 2018, for AEP customers who do not shop for a competitive electric supplier. Leading up to the auction, Bates White provided comments on bidder qualifications and related issues. Subsequent to the auction, the firm reviewed and recommended acceptance of the auction results.