Electric Aggregation
Notice
Electric aggregation is currently served by Energy Harbor. As of 10/07/2024, Energy Harbor was acquired by Vistra Corp. creating the largest competitive power generator in the country. As a part of this acquisition, Vistra is reassigning the City’s electric aggregation contract to its Dynegy Energy Services East brand.
Our residents currently participating in the Electric Aggregation will receive notice of this change via a notice like the one shared below from Dynegy & Energy Harbor. The change in the brand will also generate an automatic change of supplier notice from Duke Energy to current participants. Your service and rate will remain the same throughout the end of our existing electric aggregation contract in August 2025, so you do not need to take any additional action when you receive either notice.
Renewal for August 2023
The Village’s current electric aggregation program with Dynegy will conclude in August 2023. The Village’s aggregation broker held a competitive bid process where Energy Harbor presented the most competitive rate that would provide Indian Hill residents another strong opportunity to capitalize on electric bill savings.
The new electric aggregation fossil fuel rate is $0.0722 per kilowatt hour. This rate will begin with August meter readings and appear on September 2023 invoices. The rate will continue for a two- year term through August 2025. The new rate is 26% lower than the current Duke Price-to- Compare rate of $0.097809 as of June 1, 2023.
Residents currently enrolled in the Village’s electric aggregation program with Dynegy should have received an opt-out letter from Energy Harbor in June. The opt-out letter is sent to all eligible residents, including anyone who moved into the Village or any others currently utilizing Duke Energy’s electric supply services. To take advantage of the $0.0722 /kWh fossil fuel rate secured by the Village, NO ACTION IS REQUIRED BY YOU WITH THE OPT-OUT LETTER.
Also, you will receive a letter from Duke Energy confirming your enrollment. Once again, there is no action required if you wish to remain in the Village’s program.
Green Energy Option
For residents interested in a green power option, please contact Energy Harbor after enrollment into the Village’s aggregation program and request green power for your account. The rate for green power energy is slightly higher at $0.0761 per kilowatt hour.
Energy Harbor
Customer Service: 866-636-3749
8:00 am – 7:00 pm.Monday-Friday
https://energyharbor.com/en/community-programs/find-your-program
Researching Aggregation Rates
Please know that residents can opt-out of the Village’s aggregation program and research their own program by visiting the Public Utilities Commission of Ohio’s “Energy Choice Ohio” at energychoice.ohio.gov.
If you wish to choose a different plan than the one offered by the Village, the Village cautions that you become familiar with another vendor’s program thoroughly before making the switch. Vendors may provide lower introductory rates; however, once the introductory period expires, rates may increase significantly higher than the Village’s longer-term aggregation rate. In addition, there may be fees and penalties with cancellation prior to a contract end date. There are no fees or penalties associated with the Village’s program.
Residents Utilizing Over 2,700 kWh Per Month
As a recap, your electric bill has two components: 1) generation supply costs; and 2.) distribution delivery costs. Generation supply costs represent approximately 58% of the average bill while 42% is represented by the distribution costs. Generation supply rates are established in the marketplace and the Public Utilities Commission of Ohio (PUCO) establishes Duke’s distribution rates.
Since 2003, the Village has taken advantage of the generation supply rates in the marketplace by creating an aggregation program which combines all Indian Hill households into a competitive bid process. The aggregation program worked well with the community saving more than $6 million.
However, at times throughout the year the aggregation program may not work for everyone. During the months of October to May, Duke’s regulated structure for their published rates contains a rate discounted below their standard rate after the first 1,000 kWh’s consumed at a residence. This tiered rate structure can result in larger consumers of electricity seeing a lower effective Price-to-Compare (PTC) from Duke, which is the standard by which generation savings from the aggregate rate are determined.
The Village’s electric aggregation consultant, AGE, identified a usage amount which determines a specific resident’s overall savings capabilities during the months of October to May. Under the current published Duke rates and the Village’s electric aggregation rate, this breaking point has been defined as 2,700 kWh per billing cycle during this period.
- Residents who consume less than 2,700 kWh per month throughout October to May will realize savings on the Village’s aggregation program during this period.
- Residents who consume more than 2,700 kWh per month may wish to consider leaving the aggregation program from October through May in order to capitalize on Duke’s tiered usage discount. Residents can then enter back into the Village’s aggregation program for the summer months when this discount from Duke is not offered and the aggregation program will generate savings for all participants.
Due to this new insight, please do not hesitate to contact the Village’s aggregation consultant, Jordan Haarmann at AGE at 618-203-8328 or [email protected] to receive further explanation and determine the options that are available to your specific electrical usage needs
As always, the Village’s program will continue to work diligently to find the best overall generation supply rate for all residents in order to avoid complicated and overwhelming comparison shopping on an individual basis.