Duke Energy Rate Hike This Summer
It’s no secret that keeping cool and comfy can eat up our summer budget. But on June 1, Duke Energy is raising its Price to Compare rate. So, default service customers in the Cincinnati area will pay more to power their homes and business. So, let’s see just how much more it may cost and how to avoid paying higher electricity rates.
Price To Compare Rate Hike
On May 1, Duke Energy revealed its standard offer service rate will rise to 10.445 cents per kWh on June 1, 2025. This rate hike is a steep one; 30% hike from the current 8.0174 cents per kWh. The rate is set to last through May 31, 2026.
With an average Ohio home using about 811 kWh of energy per month, the old PTC rate would mean a supply charge of about $65. But under the new rate, the supply charge surges to almost $85; about $20 more.
Likewise, the small commercial rate is rising by 22%. The rate goes from 8.9594 cents per kWh to 10.9549 cents per kWh. According to our estimates, small businesses could see supply charges for their first 2800 kWh of usage jump from about $250 to over $305.
Save With Fixed Electric Rates
As you can guess, this rate hike is a lot to deal with. However, there’s still time to shop plans with the best electric supplier and lock in a fixed rate with before summer prices take off. Start now by shopping 3rd party plans that offer better than Price to Compare (PTC) electricity rates.
For example, the Public Power Electric 12 Month Fixed Rate With MRC plan charges 8.09 cents per kWh. This rate means paying about $65 on your supply charge for 811 kWh of power ($20 less than the June PTC). Best of all, Public Power doesn’t charge an early termination fee. This makes it a great option if you plan to move later this year.
On the other hand, you can support green energy with the Major Energy Secure Green Choice 12 plan. This plan would charge you 9.19 cents per kWh, which means an average monthly supply charge of about $74 ($11 less than the June PTC). On top of that, you can find further savings with shopping and dining discounts from the Major Energy Rewards program.
But, with a hot summer on the way these rates won’t last long! So, shop these deals plus others right now at https://www.ohenergyratings.com. You can also count on us for news and tips that could affect your electricity bills.