Rich Surace, COO at Energy Alliances, said the average resident has saved roughly 16.5 percent on electric costs compared to Duke Energy’s default pricing since Middletown joined the aggregation program in November 2023.
That rounds out to about $240 for residents and $2.4 million for the city, according to Surace.
Residents and small business owners enrolled in the program are now paying 6.77 cents per kWh, or kilowatt-hour, while Duke Energy is charging a default rate of 10.43 cents.
Energy prices are “significantly higher now than where we were two years ago when we stood here,” Surace said.
The new rate is expected to be 9.29 cents per kWh, which is still roughly 10% cheaper than what Duke’s default rates will be, according to Surace.
Starting on their December 2025 bill, the average resident will save about $12 a month on electric compared to Duke’s default rates.
The previous rate of 6.77 cents saw savings of $35 a month.
On the natural gas side, Energy Alliances bundled the city of Middletown with more than 30 other communities to secure a rate of 65 cents per ccf, or 100 cubic feet, from AEP Energy.
The previous rate started at 59 cents in November 2024 and was then lowered to 50 cents in June of this year.
Energy Alliances estimates Duke’s rates, which change every month, to be between 70 and 80 cents this winter.
From November 2024 through May 2025, the average resident enrolled in the AEP gas aggregate program saved 7.5 percent compared to Duke’s rate.
The city of Middletown signed contracts August 6 with Dynegy Energy Services and AEP Energy to lock in these rates for residents.
Current gas and electric rates will expire in October and November, respectively.
The new 13-month electric contract with Dynegy will be in effect from November 2025 until December 2026; AEP’s new gas contract will be in effect for 12 months starting in October.
While aggregation changes the company providing the energy generation, Duke Energy is still the distributor of that energy, and the electric company would maintain the lines, respond to emergencies and be the one to call for outages or metering issues.
Those enrolled with Duke Energy or the aggregate program will receive letters in the coming months with options to opt-out of the aggregate program. Those who do not opt-out will be automatically enrolled, but residents can opt out at any time at no cost.
Residents who pay for electric or gas with third-party companies — those other than Duke, AEP and/or Dynegy — will not receive a letter and will not need to make any changes.
MORE DETAILS
Energy Alliances has a dedicated page at tinyurl.com/EAMiddletown for Middletown residents who may have questions about the program. Residents can also call 513-794-5555 for more information.
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