Beavercreek City Council has voted to renew the city’s electric aggregation program for another 24-month term. Following a competitive bid process, the city has selected Dynegy’s fixed price of 6.928 cents per kWh, which will be applied to customers’ bills beginning in August 2023 and will remain in effect through August 2025. Customers will also have the choice to opt into a renewable energy option at 7.310 cents per kWh.
Beavercreek residents and business owners currently enrolled in the city’s electric aggregation program with Dynegy are paying a fixed rate of 4.580 cents per kWh, which is set to expire in August 2023. Residents who were locked in to this fixed rate have saved a significant amount of money while electric rates more than doubled over the past two years.
“The city is committed to providing affordable and sustainable energy options to its residents,” said Pete Landrum, city manager. “This new rate of 6.928 cents per kWh is a significant relief considering the average price for electric in Ohio is above 10 cents per kWh. By locking in this low rate, we ensure our residents will continue to experience substantial price savings over the next two years.”
The city’s electric aggregation program was established in November 2003, when Beavercreek residents authorized the creation of an electric aggregation program to seek lower electricity rates for residents and small business customers who are located within the Beavercreek’s city limits. Under this program, local officials bring citizens together to utilize group buying power for the purchase of competitively priced electricity from a retail electric generation supplier certified by the Public Utilities Commission of Ohio (PUCO). Before a contract expires, the city collects competitive bids to decide on a supplier for the subsequent cycle.
In late June 2023, residents and small business owners will receive an opt out letter from the City of Beavercreek and Dynegy with information about the electric aggregation program, including terms and conditions and information on how to opt out. Residents are not required to participate in the city’s electric aggregation program.
To join or remain in the program, no action is required. If a resident or small business owner does not have an agreement with another electric supplier for services and they do not opt out, then they will automatically be enrolled into the program. There is no enrollment, switching, or early termination fees, and customers may opt in or out of the program at any time without a penalty.
Residents may also choose a third-party supplier. A list of options and providers can be viewed at Ohio Energy Choice. Residents can find out who their current energy supplier is by checking the back of their most recent billing statement under supply charges.
For additional questions or to enroll in the program, click here or call Dynegy at (888) 682-2170.