Brookfield residents who are members of the township’s electrical aggregation program will pay more under a newly signed contract, but the rate is not as bad as officials feared it might be.
The new rate is 9.98 cents per kilowatt hour of usage, up from the current rate of 9.15 cents. Officials had said they expected rates would be higher, but the ceasefire in the war with Iran caused prices to fall for a short period of time, said Trustee Dan Suttles.
“That allowed us to get below 10,” he said.
The rate is “not the greatest,” but is the best the trustees could get, Suttles said.
“The market, I was amazed at how much it fluctuates week to week, sometimes day to day,” he said.
The current provider, American Electric Power, got the contract, he said. The current one-year contract ends with the June billing, and the new contract also will run for one year.
Residents should have already received letters from AEP soon informing them of the change in the program, Suttles said. Residents who are already in the program need do nothing to remain. Those who want to try to find a better rate on the open market can opt out. Residents served by another supplier, who have the ability to leave that supplier, can opt in to Brookfield’s program. There are no fees to opt in or out of Brookfield’s program, Suttles said.
Ohio Edison, which gets the electricity to Brookfield homes, irregardless of who supplies the electricity, is the default supplier for residents who do not sign up with another supplier. Ohio Edison’s current “rate to compare” is 9.7 cents.
Trumbull County has its own electric aggregation program – Brookfield residents are not allowed to enter it – that is charging 7.9 cents, but that contract is ending and the new rate will be 10.14 cents, Suttles said.
As part of signing up, Brookfield Township will receive a $15,000 grant from AEP to spend as the trustees see fit. Suttles said he asked the township’s broker, Jay Sell of Aspen Energy Consultants, to see if rates would be lower if the township does not receive the grant, but the difference turned out to be negligible.
Ohio residents who want to explore other electricity supplier options can go to Energychoice.ohio.gov
