Residents and businesses in the city of Beavercreek may be able to save on electric bills after council approved an electric aggregation agreement with AEP Energy Inc.
The three-year agreement sets the available electric rate at about 5 cents per kilowatt hour, a “significant discount off of the current DP&L price to compare,” according to a release from the city.
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Notification letters will be sent out Friday. Residents and business owners who are not already part of a third-party energy contract will be automatically enrolled in the program unless they choose to opt out, according to the city.
Officials said this is the first electric aggregation program the city has entered since voters passed a ballot measure in 2003 enabling the city to pursue such agreements.
“Aggregation programs in general are pretty good deals for residents,” said Daniel Deters, Energy Alliance representative who assisted the city in choosing a supplier and negotiating the rate.
Deters advised to be aware of “scammers” and read the fine print before entering an agreement with suppliers, some of which offer short-term deals with high termination fees.
Residents and businesses can end participation in Beavercreek’s program at any time without penalty, Deters said.