- Doug Smith
Renewable energy aggregation saves residents money
In 2018, I led the issue to begin a city electric aggregation program to save residents money on electric bills and to take advantage of sourcing 100% renewable energy. Worthington voters passed the initiative and have been part of this program (with an opt-out exemption) since June 2019.
Since then, we have gone through nearly two cycles of two-year aggregation programs. The first program (June 2019-2021) saved residents approximately 5 percent on electric bills. The second program (June 2021-current) has saved residents approximately 14 percent on electric bills.
The programs used 100% renewable energy.
Currently, the city is working with our energy consultant to capture favorable terms and rates for the next program beginning in June 2023. The energy markets are volatile as AEP’s default utility price has increased to approximately 30 percent higher than the city’s aggregation rate. This means if you did not have a city aggregation program, you would – by default – be paying 30 percent more on your electric bills.
As we enter into Spring months, we will have a better idea of the energy markets and how we can capture low-cost renewable energy prices to save residents money. The city should be able to finalize the next program in April 2023 for the June 2023-2025 program.
View the city aggregation page here.