Ohio is home to major league and college sports teams, international cuisine, trendy neighborhoods and museums. It also is known for its affordable electricity rates and energy choice laws. Under energy deregulation, Ohio Edison customers have the option to choose their own power supplier. More than 4.2 million Ohio households and a quarter of Ohio businesses have already switched suppliers, sometimes saving up to 23%.
Whether you are an ohio edison customer looking to save on your electricity rate or just wanting more control over your energy bill, there are many ways to compare ohio edison rates and plans. Start by checking out the state’s official online comparison tool, Apples to Apples. This tool allows consumers to review and compare their options in an easy-to-use, intuitive manner.
Ohio Edison provides electricity transmission and distribution to over a million homes and businesses in northeast and central Ohio. The utility is operated by FirstEnergy Corp, one of the country’s largest energy companies. The company is a Fortune 500 firm with $62 billion in assets and employs more than 69,000 people worldwide.
In addition to providing electricity, Ohio Edison is committed to environmental responsibility. It has invested in renewable energy projects, including wind and solar facilities. The company also promotes energy efficiency, helping residents and businesses lower their electric bills and reduce their carbon footprint.
It is important for Ohio Edison customers to understand how their electric bill is calculated. Generally, most of the bill is for energy delivery and the rest is for generation. Ohio Edison charges a default generation supply rate on its electric bills called the Price to Compare. This default rate, set by the Public Utilities Commission of Ohio (PUCO), will increase on June 1, 2018.
Customers can avoid this rate hike by shopping competitive electricity suppliers. Licensed energy suppliers, like Shipley Energy, can offer Ohio Edison customers a variety of plan products with different features including flexible lengths of contract, rewards programs, and low prices. When you switch to a competitive supplier, Ohio Edison will continue to deliver and distribute electricity to your home or business. Your new electricity supplier will appear on your monthly bill under the Charges from Electricity Generation Supplier line item.
The PUCO oversees the auction process that determines what rate Ohio Edison and other regulated utilities can sell their generation supply at. These prices are then passed on to consumers, who are charged the PUCO-approved standard generation supply rate known as Price to Compare. The Price to Compare will be increased on June 1 for Ohio Edison, Dayton Power & Light, Cleveland Electric Illuminating Company and Toledo Edison. This is the second time in five years this rate has increased. The price to compare is determined by a combination of factors, including the costs incurred by the utilities in purchasing power at the recent PUCO-approved auctions. The price to compare will be updated each month based on the results of these auctions.