Electricity Rates

Average trailing 12 month overpayment in Ohio

Posted 
June 12, 2024
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by
Fred Sayer
Posted 
December 7, 2023
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Read

In the past 12 months you may or may not have been paying attention to the price you pay for your electricity, but we have. 

Many don’t know this but in Ohio anyone can switch their electricity supply rate plan to a third party supplier. When you do so, you keep your same utility company and bill without any interruption or changes to your reliability. The only thing that changes is who generates your electricity and for what price. 

We looked back 12 months ago to July of last year to see if you switched to a fixed alternative electricity supply plan that was available through Arbor at the time, what the difference in cost would have been for the average household, and found the following:

AEP……………………. $520.37 overpayment

AES……………………. $508.14 overpayment

Illuminating Co……….. $524.41 overpayment

Duke Energy………….. $415.95 overpayment

Ohio Edison…………… $535.97 overpayment

Toledo Edison…………. $545.02 overpayment

The details of data: We used the average Arbor user usage of 1039 kWh/mo. We pulled fixed electric supply plans that were available through Arbor in July 2023 which ranged from 6.5-6.8¢/kWh compared to the default utility rates within each month and then multiplied the differences in rates by the average 1039 kWh/mo and found the above. 

Every single month there have been double digit percentage savings since last summer.  

The good news moving forward? To this day 12 months later there are still fixed plans that you can cancel anytime significantly lower than the utility default rates in all of the utilities listed above. For example, as of writing through Arbor there is a fixed 12 month rate at 6.59¢/kWh rate available compared to the current utility rate of 9.29¢/kWh. 

If you are interested in taking advantage prior to the incoming increased summer bill costs, you can do so for free at no obligation with Arbor. Sign up for a lower fixed rate today in 2 minutes with no interruptions to your service. 

Utility Name
Default rate
Rate through Arbor
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