COLUMBUS, OHIO (May 2, 2024) – The Public Utilities Commission of Ohio (PUCO) is urging residents across the state to carefully review their energy supplier options in light of impending electricity supply price adjustments set to take effect on June 1, 2024.
In Ohio, most customers of regulated electric distribution utilities have the freedom to select their energy supplier. Those who do not exercise this choice or participate in local government aggregation programs have their electricity priced by their utility, referred to as the “standard service offer.”
To aid consumers in making informed decisions, residential customers can refer to the “price-to-compare” (PTC) listed on their monthly utility bill. This figure represents the cost customers would incur if they opt to retain their current energy supplier rather than switch.
The PTC rates for residential customers of various utilities are anticipated to change on June 1 as follows:
- AEP: $0.0768/kWh
- AES: $0.85785/kWh
- Cleveland Electric Illuminating: $0.094454/kWh
- Ohio Edison: $0.092938/kWh
- Toledo Edison: $0.094204/kWh
- Duke: $0.0801/kWh
According to the US Energy Information Administration, the average Ohio household consumed 874 kWh per month in 2022.
Utility PTCs are subject to periodic adjustments, with updates occurring up to five times annually, depending on the utility. Each June, energy and capacity prices are revised based on results from wholesale auctions, which significantly influence the PTC.
Consumers seeking to explore their electricity service options can utilize the PUCO’s Energy Choice Ohio website (energychoice.ohio.gov), offering a comprehensive platform for comparing offers from competitive suppliers. The website’s Apples-to-Apples charts facilitate side-by-side comparisons of various supplier offers against the utility’s standard service offer.
Energy Choice Ohio furnishes consumers with essential guidance on switching suppliers, including pertinent questions to pose to prospective suppliers before enrollment. While energy choice is an option, customers who do not select a competitive supplier or participate in a local government aggregation program will automatically receive service under their utility’s standard service offer.
For inquiries concerning utility bills or energy choice options, Ohioans can reach out to the PUCO Call Center at (800) 686-PUCO (7826) or visit the PUCO website at PUCO.ohio.gov.
About PUCO: The Public Utilities Commission of Ohio (PUCO) is tasked with regulating public utility service in the state, ensuring that all residential, business, and industrial consumers have access to safe, reliable utility services at equitable prices while fostering a competitive environment. Consumers with utility-related queries can contact the PUCO Call Center at (800) 686-PUCO (7826) to speak with a representative.
For additional information, please contact: Matt Schilling | (614) 466-7750
