Ohio Electricity Prices to Skyrocket June 1
Ohio First Energy customers will see their default rate double on June 1. This means that the PTC for three of Ohio’s northern electric utilities will increase 10.3 cents per kWh in a few weeks. If you are on the default SSO rate, what will this mean for your bills? What are your other options? Let us show you how the First Energy rates doubling in June will affect you.
First Energy Hiking Your Summer Electric Rates
This rate increase will affect customers across northern Ohio and will last the rest of the year until May 2024.. Customers on the standard service offer in Toledo, Akron, and Cleveland will all see higher rates but at slightly differing amounts. Customers who’s bills are from Toledo Edison will see their monthly bill go up from $71.45 to just under $103 a month. Ohio Edison customers will see slightly less at $100. Finally, customers with The Illuminating Company will see their bills average around $98. This is on average a $30 increase per month. And with summer temperatures predicted to be high this could spell longer running AC systems and high electric bills.
Shop Low First Energy Area Rates Now
Natural gas rates have fallen to three year lows so electricity prices are lower, too. But as soon as the summer cooling season starts, demand will pull prices back up. That means now is the time to shop for a new electricity plan to lock in a low rate for 12 month or longer. And though shopping for a rate may have your bills looking higher for the next two months, securing a fixed rate now will keep your bills free from skyrocketing First Energy rates. Plus, there are tons of low priced rates in Ohio cities for every situation available.
Start Looking For A New Ohio Electricity Rate Today
Shopping around now also gives you extra time. You don’t have to pick a plan immediately. Secondly, most plans start on the next billing cycle, so be sure that your new plan will be in place before the rate increase hits. It’s also important to know that with rates increasing so sharply, there may be some options that sound too good to be true. Watch out for illegal practices, and know your consumer rights. Shopping around now gives you a chance to check out the company and make sure they’re legit. You can check the company’s rating to ensure you’re going with the best option.
Switch Today And Save
Your electricity bill shouldn’t be a point of stress. You have plenty of time to find the right rate for you before First Energy doubles their PTC rate. However, this doesn’t mean you shouldn’t worry about it. Run, don’t walk to a new rate before June 1. And the best place to find that low rate is at https://www.ohenergyratings.com.