For Immediate Release For More Information Contact 522-1410
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 Retail. Members 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."
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