Ohioans Pay Higher PTC Rates in June

By Justine TrollingerBest Electricity Rates, Electricity Rates in Ohio, Ohio Electricity Rates, Ohio electricity utilities, Ohio Industry News, Ohio utility bills, Price to Compare
Most Ohio utilities are charging higher default PTC rates for June! Many electric bills will double. Find out what your options are and how you can save!

How Much Does Your Ohio Electricity Cost Now?

Higher default PTC rates started on June 1 Many electricity customers on their utility supply rate will pay double what they did in May. Learn how you can avoid sky high pricing!
Higher default PTC rates began June 1. If you didn’t shop and switch providers, you’ll probably pay twice as much on your June electricity bills. Learn how much it will cost you and how to avoid it!

As of June 1, you’ll be noticing a drastic change to your electricity bills. If you are on the standard service offer or Price to Compare (PTC) for your area, your rates have gone up significantly. As a result, many Ohioans are worrying how much they will be paying now. And with a hot summer on tap, what if they can’t pay the new higher rate? Because consumers in Ohio need to know, we’re going to go over how paying these higher PTC rates in June may affect you.

How Much Higher Will My PTC Rates Go?

On average, most companies are doubling their PTC rates, which will drastically affect your bills.

  • The AES Ohio PTC rate decreased from 10.91 cents per kWh to 10.81 cents per kWh.
  • AEP Ohio increased its rate from 7.49 cents per kWh to 11.84 cents per kWh.
  • The Duke Energy PTC has risen from 6.44 cents per kWh to 10.17 cents per kWh.

Both AES Ohio and AEP Ohio rates rates will remain in place for the next year.

All three First Energy utilities have increased their PTC rates:

  • Ohio Edison increased its rate the most going from 5.88 cents per kWh, to 12.39 cents per kWh.
  • The Illuminating Company similarly increased its rate from 5.90 cents per kWh, to 12.40 cents per kWh.
  • Toledo Edison raised its PTC rates from 5.94 cents per kWh, to 12.41 cents per kWh.

Duke Energy and all three First Energy utility rates will change on July 1.

What Will Your Bills Look Like?

Higher PTC rates started June 1 for customers on their utilities default service. You June electricity bills could double.
Ohio utility customers on their utility’s default service face higher PTC rates. That means they’ll probably pay DOUBLE on their June electricity bills. Shop now to avoid even higher prices in July!

The average Ohioan uses around 892 kWh per month so we can easily calculate what you can expect to pay per month. We’ll use Ohio Edison’s price increase as an example, since it is the most drastic.

In May, customers paid around $52 for the electricity that their home used. In June, customers can expect to see average electricity supply bills for about $110. This means that customers on the Ohio Edison SSO rate could pay total bills of around $156. That’s a drastic increase from their previous average of around $92.

Higher PTC Rates Delay Help With Bills

While these PTC rates are spiking sky high, many Ohio residents will struggle to pay higher bills. This has not only affected how many are requesting bill payment assistance, but also how quickly that assistance is getting out. The Ohio Consumer’s Counsel is pushing for PUCO to prevent shut-offs due delayed assistance. It is currently unknown whether PUCO will back the request. However, it is important to note that Ohio utilities cannot disconnect a residence until 60 days of non-payment.

Better Options For Your Ohio Electricity

How do you avoid paying these high rates? You can shop electricity rates that are well below the PTC. Depending on your needs, you can find one-month to 36-month plans, all under your service area’s PTC. Consider energy-saving tips to keep your bills even lower during the summer months.

Search and shop now for a lower rate today at www.ohenergyratings.com