Confusion over electric rate gives Findlay residents a jolt

Findlay residents got a jolt this week when letters arrived about the city's new electric aggregation contract with Energy Harbor LLC, Akron. It appeared that the electric rate had skyrocketed, but the confusion was just a matter of dollars versus cents. The electric rate is typically expressed in cents, the same as it appears on the bill: $.0644 per kWh, equivalent to 6.4 cents per kWh, the format included in the letter. The formatting confused residents, with many thinking the rate just made a huge jump. The new rate becomes effective with the March 2024 meter readings and will be locked in for two years. The rate is higher than the city's previous three-year contract with Constellation, Baltimore, Maryland, which set the base rate at$0.04811 per kWh, or 4.8 cents per kWh. Energy Harbor won the city's contract through a competitive bidding process, with Findlay City Council approving the agreement in December. "The default supply rate from the local utility has risen sharply and will continue to be elevated until the summer," said city officials in letters mailed to residents explaining the new plan. The letters began arriving this week. Residents will have 21 days to return an opt-out card to Energy Harbor if they decide not to participate. City residents who have already selected a different electric supplier, but now want to switch to Energy Harbor, can still get the same rates, terms and conditions by contacting the company. Early termination fees could apply with the original supplier. Residents with questions about the aggregation program should call Energy Harbor at 866-636-3749. More information about the program is also available on the city's website: findlayohio.gov City voters approved electric aggregation in the November 2011 election, as a way to reduce electric costs through a larger volume of users, or aggregate, banning together to purchase electricity from one supplier. EDITOR'S NOTE: This story has been corrected to reflect the accurate rates of Findlay's new contract with Energy Harbor LLC, Akron. An earlier version of this story repeated the misconception about the rates by mistake.