COLUMBUS — The Public Utilities Commission of Ohio (PUCO) Thursday is encouraging Ohioans to review their energy choice options ahead of electricity supply price changes taking place on June 1, 2024.
Most customers of Ohio’s regulated electric distribution utilities can choose their own energy supplier. Customers who do not choose their own energy supplier or participate in their local government aggregation program have their electricity priced for them by their local utility, known as the “standard service offer”.
Residential customers can use the “price-to-compare”, or PTC, printed on their monthly utility bill when comparing electricity rates from competitive suppliers to know if switching suppliers will help them save money or not. The price-to-compare represents what a customer will pay to their local utility if they do not switch energy suppliers.
Utility price-to-compare rates for residential customers are expected to change on June 1:
Ohio utility PTC rates:
AEP Ohio: 0.0768 (32% decrease) AES Ohio: 0.85785 (20% decrease)
Cleveland Electric Illuminating: 0.94454 (14% decrease)
Ohio Edison: 0.92938 (14% decrease)
Toledo Edison: 0.94204 (14 % decrease)
Duke Energy Ohio: 0.0801 (18 % decrease)
According to the US Energy Information Administration, the average Ohio household consumed 874 kWh per month in 2022, the latest data available.
Utility PTCs change up to five times per year, depending on utility. Each June, energy and capacity prices are updated based on results of wholesale auctions, which make up most of the PTC.
How to compare offers
The PUCO’s Energy Choice Ohio website available at energychoice.ohio.gov provides consumers a one-stop resource for comparing offers for electricity service. Customers can compare offers from various suppliers, find helpful information to consider before making a switch, and get help from the PUCO.
Energy Choice Ohio’s Apples-to-Apples charts allow visitors to compare offers from competitive suppliers side by side, and the price to their utilities’ standard service offer. Competitive suppliers may provide information including the rate per kWh (fixed or variable), contract length, renewable energy content, early termination fees, monthly fees, promotional incentives, and other related information.
Energy Choice Ohio provides consumers with important steps to switching as well as recommended questions to ask suppliers prior to enrolling. Energy choice is an option; customers that do not enroll with a competitive supplier or their local government aggregation program will be served under their local utilities’ standard service offer.
Ohioans with questions about their utility bills or energy choice options can contact the PUCO Call Center at (800) 686-PUCO (7826) or by writing the PUCO online at PUCO.ohio.gov.
The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business and industrial consumers have access to adequate, safe and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.
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