Nearly 500,000 Northeast Ohio Public Energy Council (NOPEC) electric customers will receive reduced rates on the generation portion of their utility bills thanks to a $9 million price reduction program being implemented by NOPEC this spring.
The rate reduction will benefit all current NOPEC electric customers served by Ohio Edison and The Illuminating Company (CEI). On average, the rate reduction will equate to nearly $18 for residential customers and about $39 for small business accounts over the 4-month program period.
“We think this is a significant benefit for our members – and we’re happy to pass along this substantial price reduction on top of the bulk buying savings we’re able to offer our customers every day,” said Chuck Keiper, NOPEC’s executive director.
Ron McVoy, chairman of the NOPEC Board of Directors and a North Kingsville Village councilman, said the give back reinforces NOPEC’s consumer advocacy role. “We like talking about standing up for consumers and helping lower utility bills,” McVoy said. “It’s even better when we back up that talk with $9 million in rate reductions for our half-million electric customers.”
About $5.4 million of the $9 million comes from NOPEC’s settlement with its former electric supplier. In late 2016, FirstEnergy Solutions terminated its contract to provide electricity to NOPEC customers three years early. Keiper said NOPEC decided to add to the settlement proceeds to bring the total give back to $9 million.