Duke Energy Ohio to cut power bills this month by 3.6 percent

Published on June 09, 2020 by Chris Galford

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Beginning this month, Duke Energy Ohio — a subsidiary of Duke Energy — will reduce power bills by 3.6 percent, meaning the average residential customer should save about $4.24 per month or more than $50 per year.

Those estimates are based on customers who use 1,000 kilowatt-hours of electricity a month. Such customers will end up paying around $114 per month now. This is because Duke Energy Ohio’s recent winning bids in the competitive auction process have been lower than past bids, leading to lower charges for electric supply overall. This will apply to customers who have chosen not to switch to a third-party energy company for their electricity supply.

“We work each day to deliver safe and reliable energy to our customers at the best possible price,” Amy Spiller, president of Duke Energy’s utility operations in Ohio and Kentucky, said. “Our customers’ bills continue to be among the lowest in Ohio and well below the national average.”

The company, which provides electricity to more than 650,000 homes throughout southwest Ohio, makes no profit from the energy supply portion of bills. Instead, this cost is passed onto customers and ends up accounting for about 48 percent of customers’ monthly bills. The rest is for Duke Energy Ohio to deliver electricity, maintain and improve infrastructure, handling billing and payment, and other operations.