Announcements
September 20, 2024: ANNOUNCEMENT: Commission Approves Capacity Proxy Price Approach and Product Schedule for ESP V
On January 6, 2023, AEP Ohio filed an Application seeking to implement its fifth Electric Security Plan (“ESP V”) for a period to commence on June 1, 2024 (Case No. 23-0023-EL-SSO). Through an April 3, 2024 Opinion and Order, the Public Utilities Commission of Ohio (“Commission”) modified and approved the stipulation filed in the case and authorized AEP Ohio to implement ESP V for the period June 1, 2024 through May 31, 2028.
On August 27, 2024, AEP Ohio filed (in Case No. 23-0023-EL-SSO) compliance updates to the product schedule and forms of the CBP Rules and Master SSO Supply Agreement to implement a Capacity Proxy Price mechanism and adjust the product schedule for the 4-year ESP term. Through a September 19, 2024 Finding and Order, the Commission approved AEP Ohio’s proposed product schedule. Additionally, the Commission approved the filed CBP Rules and Master SSO Supply Agreement, which are currently posted to the CBP website and dated August 27, 2024.
The approved product schedule is posted to the CBP website here. This October 2024 Auction will seek to procure:
- 17 tranches of a 12-month product with a supply period of June 1, 2025, to May 31, 2026
- 17 tranches of a 24-month product with a supply period of June 1, 2025, to May 31, 2027
- 16 tranches of a 36-month product with a supply period of June 1, 2025, to May 31, 2028
Additional information on the Capacity Proxy Price mechanism is available in the CBP Rules, Master SSO Supply Agreement, and Bidder Webcast available on the Documents page of the CBP website here. The Capacity Proxy Prices for the 2026/2027 and 2027/2028 delivery years are provided in the Bidder Webcast.
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