June AC Bill Hikes Hit Ohio
Keeping cool during hot summer days in Ohio can cost a lot of money. Especially for struggling families that face even higher electricity rates when utility rate hikes hit this June. Can you still lock in and save with the best electric supplier? Here’s what you should do when higher ac bills come alongside June 1 utility rate hikes.
Will Utility Rates Hike This Summer?
You might be wondering how bad could rate hikes get this year? While we don’t have the full picture quite yet, we have several reasons to worry.
First of all, data centers have massive power needs. So as they join the OH grid, demand will increase and prices will likely rise as well. This will likely cause our rates to rise, even with data center tariffs in place.
In addition, Ohio may experience another incredibly hot summer. This means a lot more energy used to run your AC. Last year, Ohio experienced a blistering hot summer with multiple heat waves. In fact, EIA data shows that in July last year, the average home used 1,230 kilowatt-hours (kWh) of energy. Bear in mind, too, that the average utility distribution charge in Ohio for 1,230 kWh is $60. So, July electric bills last year ran over $150.
How High Will Utility Rate Hikes Go?
Obviously, knowing how much your bills could rise after next month is a huge concern. The full rates haven’t been published quite yet, but we do know the how much the key parts of generation supply will cost.
- AES Ohio rates are rising 15% from to 9.4 cents per kilowatt-hour (kWh) 10.856 cents per kWh.
- Duke rates are rising 6% from almost 10.08 cents per kWh to around 10.70 cents per kWh.
- AEP Ohio rates are going up from 9.986 cents per kWh to 10.167 cents per kWh.
- Illuminating Company rates are rising nearly 14% from 8.9078 cents per kWh to 10.1386 cents per kWh
- Ohio Edison customers will see rates hike 13% to 10.0253 cents per kWh from the current 8.8919 cents per kWh
Shop Now to Avoid June Utility Rates Hikes
While that’s not the full price, it mean rates for default service are rising. And if Ohio goes through another blistering July, then default rate customers could end up paying as much as $180 – $200 on their power bill. This, on top of gas and food prices, could destroy your budget, especially for lower income families.
But, if you shop plans at https://www.ohenergyratings.com, you can find rates that are currently below your utility’s default rate. And by locking in a fixed rate plan now, you could avoid paying that much higher price to compare rate. But time is running out and Ohio energy prices go higher when the summer heat arrives! Act now!