TOLEDO, Ohio — On June 1, Ohioans will see a drop in energy costs thanks to an electric supply change. Most Ohio customers can actually choose their own energy supplier.
For many, it's the supplier Toledo Edison whose customers will see a 14% decrease. But if customers want more savings, the Public Utilities Commission of Ohio (PUCO) said shopping around is a good idea.
"Your local utility will still maintain the pipes, wires, poles, transmitters to deliver that to your house but you can essentially choose the company that puts the juice in those wires so to speak," PUCO's Director of Public Affairs, Matt Schilling said.
He said residential customers can decide what suppliers are cheapest and available for them using the Price-to-Compare (PTC) which is printed on the monthly bill.
"You can find prices out there from competitive energy suppliers that are lower than what your local utility would provide you," Schilling said.
PUCO finds suppliers like Ohio Edison, Toledo Edison, AES Ohio and AEP Ohio will see PTC decreases anywhere from 14% to 32%. Yet, if anyone isn't interested in the possible hassle of shopping for suppliers, customers can choose to do nothing.
"Those prices for those that don't make their own decision will be changing significantly on June 1," Schilling said. "In a good way for consumers, prices will be going down."
He argued that in some cases, taking the time to shop can be worthwhile. For instance, customers may be able to lock in a preferred fixed rate for a time or they could find a supplier that aligns with their wishes, maybe ones that only use renewable energy sources.
"Retail suppliers also like to throw on incentives," Schilling said. "You might be able to find yourself with a rebate for a smart thermostat or even just a cash gift card for signing up."
He said it's all about making sure customers have a choice. So what that choice is, is up to you. To go shopping for your energy supplier, visit energychoice.ohio.gov.