COLUMBUS, OHIO (May 4, 2023) – The Public Utilities Commission of Ohio (PUCO) is encouraging customers of Ohio’s regulated electric utilities to compare competitive offers from retail suppliers ahead of expected price increases to their utility’s default rate.
Default electricity prices, identified as the “price-to-compare” on residential customers’ bills, are scheduled to increase June 1 because of upward pressure on wholesale electricity markets. Customers enrolled in their local government aggregation, or directly with a retail electric supplier will not be impacted by these changes.
“Ohio’s retail energy marketplace is available for consumers to shop around for their electricity supplier,” stated PUCO Chair Jenifer French. “Consumers exploring offers from competitive suppliers should ask the right questions to know if they stand to save money on their electricity bills.”
Customers who are interested in choosing an energy choice supplier can compare supplier rate offers by visiting the PUCO’s Energy Choice Ohio website at www.energychoice.ohio.gov.
Know what to look for when comparing rates
Consumers can use the price-to-compare printed on their monthly utility bill as a benchmark to know if an offer from a retail supplier will save them money or not. The price-to-compare represents the amount per kilowatt hour one would no longer pay to their local utility when enrolling with a retail supplier. The price-to-compare would be replaced by the rate offered from a retail supplier.
The price-to-compare for Ohio’s regulated electric utilities will update on June 1 as follows:
|Current (expiring May 31)||Beginning June 1*|
|AES Ohio||$0.1091017 / kWh||$0.1080709 / kWh|
|AEP Ohio||$0.0749 / kWh||$0.1184478 / kWh|
|Cleveland Electric Illuminating Company||$0.059039 / kWh||$0.124 / kWh|
|Duke Energy Ohio||$0.0644 / kWh||$0.101712 / kWh|
|Ohio Edison||$0.058766 / kWh||$0.123902 / kWh|
|Toledo Edison||$0.059383 / kWh||$0.124065 / kWh|
*All prices reflect residential consumers using 1,000 kWh per month. Some residential customers on special heating rates, and nonresidential customers may see a different price-to-compare. Figures beginning June 1 reflect tariffs as filed by each utility and are subject to Commission authorization.
According to the US Energy Information Administration, the average household in Ohio consumed 879 kilowatt hours (kWh) per month in 2021, the latest data available.