Auction sets FirstEnergy generation rates
The Public Utilities Commission of Ohio has accepted the results of the second of six wholesale auctions that will determine FirstEnergy’s retail generation service rates through May 2014.
The auction established a new generation price of $55.60 per megawatt hour (MWh) effective for the delivery period of June 1, 2011 through May 31, 2012..
The auction was conducted on Jan. 25. There were 10 electric generation suppliers registered for the auction, and 7 submitted winning bids. The names of the winning bidders will remain confidential for 21 days.
CRA International served as the independent auction manager. Boston Pacific Company, a consultant retained by the PUCO, monitored the auction.
Additional auctions are scheduled for October 2011, January 2012, October 2012, and January 2013 to establish the generation prices for 2012 and 2013.
Pay increase repeal introduced
Congressman Bob Latta (R-Bowling Green) has introduced a bill that, if passed, would repeal the provision of law that provides an automatic pay increased for members of Congress.
H.R. 431 has been referred to the Committee on House Administration and the Committee on Oversight and Government Reform.