City renewable energy electric aggregation locked in $0.06935 for two years
In my previous article about the city’s aggregation program (here), I highlight the program’s lifetime savings by using 100% renewable energy, and project the increase of utility rates across the market.
This month, we secured the terms for our next two-year contract (July 2023 through June 2025). The city is locked in to $0.06935 per kWh for two years while the July 2023 rate for AEP Ohio’s standard use is $0.115 per kWh. That’s nearly 40 percent savings.
The new term begins July 2023 and all city residents are automatically enrolled in the program unless they have an existing third-party contract with a different provider. The city program is opt-out at any time.
Additionally, the 100 percent renewable energy will come from wind farms in Iowa and Texas.
Council Member Robinson and I spearheaded this program five years ago and placed it on the ballot with approximately 75 percent voter approval.