Duke Energy Ohio Intends to Increase Distribution Rates for Early 2013

Yesterday, Duke Energy Ohio has filed a notice with the Public Utilities Commission of Ohio (PUCO) with the company’s intention to increase distribution rates for electric service customers by $86 million and natural gas customers by $44 million.

The decision will be made at a hearing this mid-July, and if approved commercial and industrial customers will see an average price increase of 4.6% for electricity and 3.7% for natural gas.  These prices are to be in effect starting early 2013.  The increase in distribution rates will accommodate for the company’s recent investments in projects to improve the reliability of the distribution system and generation processes.

Duke officials said that even if this testimony is approved by PUCO, on average consumers would still be paying less for their electricity and natural gas.  This is due to the pressure of the market causing a trend of lower market prices.

Judie Janson, Duke Energy Ohio president, went on to add that Duke customers would even remain among the lowest paying customers in the state.  As of this writing, prices from a variety of Better Cost Control competitive suppliers in Ohio are lower than the prices that will be offered by Duke Energy.  We recommend using an electricity broker to obtain the best prices and contract terms.

To learn more about a fixed price electricity contract to protect your company from price fluctuations, contact us via email or call 800-454-0027 x150.