PUCO Holding Public Hearings for Duke Energy Rate Hike
Posted onDuke Energy Rates To Increase
It's time to hop back on the rate increase train. Duke Energy Ohio filed an application for an energy security plan back in April. This makes them the forth company this year seeking to hike electricity rates. This energy security plan does two things. It sets the standard service offer pricing process and adds new riders to cover Duke's distribution costs. The problem is that this plan will likely raise your Ohio energy bills by $135 per year. If not you're not happy with this, then you'll have an opportunity to tell them.
Public Hearings Take Place Soon
Since this is such a large increase, PUCO is holding public hearings in the Duke service area. The first is September 4 at 6 pm, at the MidPointe Library in Middletown, OH. The second is located at Cincinnati City Hall at 6 pm on September 10i. Five PUCO commissioners will be there to listen to your views on this increase. You can also file a public comment, or send a letter directly to the PUCO board:
Public Utilities Commission of Ohio
180 E. Broad St., 11th Floor
Columbus, OH 43215
Is a Rate Hike a Burden On Customers?
According to the Ohio Consumer's Counsel, Duke Energy's ESP plan raises the distribution rates for all residential customers. While bills rise a mere 1.7% the first year, they increase by another 6.19% to 7.87% in three years. For a typical residential consumer, they would have to pay an additional $11.27 per month.
All these hikes come about through the addition of new distribution fees and other riders. For example, the new Infrastructure Modernization Rider. This lets Duke Energy collect costs for two electric vehicle programs from all of its customers. And there's no exception if they own an EV or not. Also, Duke Energy includes charges for energy efficiency programs. Even though we like them, some Ohio consumers do not want to pay for them. So, Ohio no longer has a law the requires such programs nor their funding.
Find A Cheaper Electricity Rate
It's important for Duke Energy consumers to speak their minds at forums like the ones PUCO is holding. After all, Cincinnati area energy customers already saw a $23 million rate increase start in 2024. Plus, PUCO will consider public comments during in their approval hearings.
No one who watches the the energy industry disagrees that Ohio's local grids need upgrading and expanding. However, as the OCC points out in its Duke Energy factsheet, Ohio utility ESP's "have become a common tool for Ohio’s electric companies to collect more money from consumers outside of a standard distribution rate case."
Another Rate Hike Coming?
With more people needing Ohio electricity, the quick answer is "probably". That means everyday consumers need to find ways to cut their monthly electric bills. So, it’s important to shop low rates now and lower your monthly bills. The best way to do that is to lock in a low rate that beats Duke Energy’s price to compare. Also be sure to watch for ways to cut high electricity bills. You can find more information on saving on your electricity and other rate increases at www.ohenergyratings.com
Thank you!