Springfield Township Press Release

Joseph Honerlaw, Trustee
Tom Bryan, Trustee
Gwen McFarlin, Trustee
John Waksmundski, Fiscal Officer
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For Immediate Release
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SPRINGFIELD TOWNSHIP ANNOUNCES
NEW ELECTRIC AGGREGATION PROGRAM RATE AND CLAIRFIES INACCUARATE OFFER BY DUKE ENERGY RETAIL


(Springfield Township, Hamilton County, Ohio, July 7, 2010) SpringfieldTownship officials would like to remind residents and small businesses to look for a notice that has recently been mailed concerning the new rate for the electric aggregation program supplied by Dominion RetailMembers in the program are being offered a very low fixed-rate of 5.70 cents per kWhfor all electric consumed during the billing months of February 2011 through January 2012.
 
This offer is substantially better than a recent offer mailed to residents participating in the Township aggregation program by Duke Retail of 6.39 cents per KWh for the remainder of 2010 and 2011. 
 
"Duke's offer is both misleading and inaccurate," said Township Trustee Joe Honerlaw. "Duke Retail fails to inform residents that the Township's aggregation program will offer a price in 2011 that is nearly 11% lower than the Duke Retail price offer.   Therefore, residents who switch to Duke Retail will actually pay more for electric than if they remain in the Township's program," added Mr. Honerlaw.
 
Township Administrator, Michael Hinnenkamp strongly urges Township residents to call the Township to ensure they understand the complete picture and consequences of switching to Duke Retail's offer before doing so.  "We've been working with our aggregation consultant Independent Energy Consultants, Inc. and have been watching the wholesale electric market very closely.  We sought bids to continue our electric program now, because energy prices are very attractive.  Duke Retail has been invited to participate as a supplier in our program since its inception but has chosen not to participate."  Hinnenkamp added, "It is unfortunate that they have chosen to send out a letter promising savings to our residents when the result of switching will actually result in higher cost.  Our program has provided an excellent alternative to Duke Energy's electric generation supply charges which currently average 9.43 cents per kWh.  Collectively, participants in our program have saved over $2 million in our first year with Dominion Retail," he added.
 
Richard Zelenko, Dominion Retail Vice President said, "We're pleased to continue to serve the residents of Springfield Township.  Current participants should look for an opt-out notice from Dominion Retail that was mailed late last week.  These account holders will remain enrolled in the program for another year starting with February 2011 billing, unless they contact Dominion Retail and ask not to be included."
 


Joseph Honerlaw - Trustee               Tom Bryan - Trustee              Gwen McFarlin - Trustee

John Waksmundski - Fiscal Officer
 
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