World Energy Solutions, Inc. today announced Vectren Energy Delivery of Ohio (Vectren) successfully conducted a natural gas auction for its Standard Sales Offer (SSO) on the World Energy Exchange.

The auction resulted in a retail price adjustment of $2.35 per thousand cubic feet (Mcf), which will be in effect from October 1, 2008 through March 31, 2010. Auction results were approved by the Public Utilities Commission of Ohio (PUCO) within 24 hours.

In a previously released statement, PUCO Chairman Alan R. Schriber stated: “We are pleased with the results of this auction. We believe customers in Vectren’s service territory will see a savings on the natural gas commodity price.” (The full statement can be read at www.puco.ohio.gov/puco/mediaroom/MediaReleaseBorderless.cfm?id=8732).

Vectren conducted the August 19, 2008 auction to enable interested suppliers to compete for the right to provide natural gas supply for its choice-eligible sales customers. Vectren’s choice program gives customers the option of purchasing their natural gas from a supplier other than Vectren, with Vectren retaining all delivery, billing and services responsibilities for the commodity.

Posted: 10|6|08 at 1:02 pm. Filed under: Auction News.