CLEVELAND — Following a warm Memorial Day weekend and more rising temperatures ahead, experts continue to urge energy customers to shop for an energy supplier as some rates are expected to double beginning June 1.
"What we call the default electricity prices for many Ohioans will be increasing by a sizable amount," Matt Schilling at the Public Utilities Commission of Ohio said.
This price hike is only slated to impact customers enrolled in the default rate, or standard service offer at The Illuminating Company, Ohio Edison, and Toledo Edison.
The increase means seeing your energy usage rate go from about 5.88 cents/kwh to 12.39 cents/kwh. If you use 1,000 kilowatts in a month, that amounts to almost $60 more than what you’re used to seeing on your bill.
Those who selected their own electric supplier or those enrolled in aggregate government programs should not be impacted.
Schilling told News 5 there are several factors across the globe that can impact these prices.
"[The rise in prices are] largely due to just the state of the macroeconomy here in the U.S. and inflationary pressures on prices, but also the global conflict over in Europe," he said. "2022 had significant impacts on the price of natural gas and natural gas as a primary fuel source for generating electricity."
Lauren Siburkis, a spokesperson at FirstEnergy, is quick to point out that it’s not their delivery rate changing, it’s the rate for how much electricity you use.
"When we're talking about rates increasing on June 1st, that's the increase for customers of FirstEnergy who choose not to shop," she explained.
And that’s the keyword: shop. Experts told News 5 customers can and should explore switching providers when it comes to electric or natural gas throughOhio’s Energy Choice website.
In this case, experts say it can mean saving quite a bit on your bill at a time when you’re already using more electricity.
"You have a choice as a consumer to choose your own energy supplier," Schilling added. "Right now, there's a lot of pretty good offers out there that will come in much lower than that default rate."
We don’t just report the initial story—we follow through to its conclusion. Read and watch our previous reporting on this story below and see more stories that we've followed through on here.
According to the Public Utilities Commission of Ohio, about 55% of Ohioians are choosing their own energy supplier, whether that’s individually or through a local government aggregation option.
To learn more about how to enroll in a different energy supplier or compare rates, click here.
If you don’t shop, expect that increased rate to stay the same through May 2024.
And for those of you that do shop and change your energy provider, those at FirstEnergy want to remind everyone that it can take a billing cycle for the new rate to take effect.
So even if you change before June 1, you may still see those June rates on your next bill before the new rate takes effect.
Looking for ways to save money?
FirstEnergy offers rebates for buying new Energy Star-certified appliances. It also offers money for recycling old ones.
Appliance recycling program:
- Program will provide an opportunity for residential customers to earn $75 when they recycle an old, working refrigerator or freezer.
- Customers can earn an additional $35 by recycling an old, working dehumidifier, room air conditioner or mini refrigerator alongside their refrigerator or freezer. The smaller units must be recycled together with a refrigerator or freezer.
- Enhanced rebates will be provided for limited-income customers.
Appliance rebate program:
- Will offer residential customers rebates on the purchase of ENERGY STAR®-certified appliances. Rebate amounts include:
- $50 for a clothes washer
- $100 for an electric clothes dryer
- $100 for refrigerators
- $50 for freezers
- $500 for a heat pump water heater
- $50 for a room air conditioner
- $50 for an air purifier
- $25 for a dehumidifier
- Enhanced rebates will also be available for limited-income customers, making it easier for all customers to make energy-efficient choices.
CLICK HERE for more information on FirstEnergy's appliance recycling and rebate programs that will pay you to recycle a refrigerator or freezer.
