Under the contracts, approximately 195,000 residential customers and 21,000 commercial customers will receive discounts off the generation component of their bills. The communities are
The governmental aggregator may choose between two agreements - a graduated or a flat percentage discount. The graduated discount plan offers savings of 10 percent in 2009, 6 percent in 2010, 5 percent in 2011 and 4 percent in 2012. The flat-rate percentage contract offers a 6 percent discount on generation prices through the end of the contract. Small commercial customers in these communities will enjoy a smaller graduated or flat-rate discount, as well, depending on the contract.
"We are pleased to provide these customers with competitively priced electric generation service from a local company," said
Discounts will be based on the generation price customers would have been charged if they purchased electric generation service from their electric utility and did not switch to service from an alternate supplier. The electric utility prices will be established based on the outcome of a competitive bidding process (CBP) that will be conducted for Ohio Edison, Toledo Edison and The Illuminating Company. The CBP will secure generation supply and determine pricing for the period of
Under
Discounts under the contracts will be effective beginning in late summer or early fall, depending on when customers' meters are read. Ohio Edison, Toledo Edison or The Illuminating Company will continue to deliver the electricity, read meters, send monthly billing statements and maintain service for residents covered by the governmental aggregation contracts. Residents should continue to contact their utility company with questions about their service or to report a power outage.
Source: FirstEngery Corp.

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