“I was slightly surprised. When we took it to council for approval (March 10), the best rate was 10.4 cents,’’ said Adam Sackenheim, the city’s assistant city manager.
“By the end of the week the energy markets had come down a little bit.”
The new rate is up from the 9.39 cents per kilowatt of electricity those enrolled in the city’s aggregation are now paying. But it’s still lower than Duke Energy’s price to compare of 10.5 cents per kilowatt of electricity, said Rich Surace, a consultant with Energy Alliances.
“The city’s program aligns perfectly with Duke’s planning year. We were negotiating a price right up until the contract was signed,’’ Surace said.
“They’re (prices) high. They’re ugly no matter where you go. There’s a lot of volatility out there.”
Dynegy will begin sending out letters at the end of the month asking eligible Fairfield residents, if they want to opt out of the city’s electric aggregation program. Under the contract, residents may opt out at any point.
The letters will be sent to anyone: already enrolled in the electric aggregation plan, using Duke as their provider, not on the percent of income plan, or not on the Public Utilities of Commission of Ohio’s permanent do not aggregate list.
Of the 15,000 eligible account holders in the city, an average of about 10,800 accounts are participating in the electric aggregation program, Sackenheim said.
Since the program began, residents have saved between $220 and $250 on their electric bill, Sackenheim said.
“I would (expect) we would continue to see cost savings,’’ Sackenheim said.
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