Residents of Springfield Township participating in the community’s electric aggregation program will soon see a change in their electric rates. Beginning shortly, the new rate will be $0.0945 per kilowatt-hour (kWh), up from the current $0.0678/kWh.
Even with this increase, the updated aggregation rate remains slightly lower than Duke Energy’s projected default rate of $0.099/kWh or higher, expected to begin in June.
It’s important to note that this new rate reflects the best price offered by energy suppliers during a competitive bidding process managed by our aggregation broker Energy Alliances, not a rate increase set by the Township. The new contract was selected to provide residents with the most favorable pricing available amid ongoing market volatility.
This rate adjustment reflects broader trends in the energy market, driven by increased demand, limited supply, and growing electricity usage across industries and homes. For more background on why electric costs are rising, check out this recent WCPO article.
Since June 2023, Springfield Township’s aggregation program has delivered strong value to residents, with participating households saving an average of approximately $360 compared to Duke Energy’s standard rates.
In recent weeks, some residents may have received a letter from Duke Energy stating that their service is being returned to Duke from the aggregation supplier. If you received this letter, you can disregard it. It was automatically generated due to the timing of our program renewal.
To ensure residents received the most competitive rate possible, the Township—working closely with Energy Alliances—waited to finalize the new contract until favorable pricing became available. This unfortunately pushed us past the window to prevent Duke from sending those automated notices.
Springfield Township’s electric aggregation program helps residents secure competitive pricing by negotiating as a group. Participation is completely optional, and residents can opt out at any time.
To explore your options, compare rates, or learn more about the program, visit the Energy Alliances website.
If you have any questions or concerns, please call Energy Alliances directly at (513) 794-5555. Their team is happy to help.