Who Has the Best Home Energy Rate In Cincinnati?
Posted onShop Best Cincinnati Home Energy Rates
We're inching closer to the winter months and that means higher electricity bills for many families. Rising gas prices and heating demand through possible cold snaps may break the bank if you don't lock in the best possible rates. Fortunately for Duke Energy customers, there are some great energy rates that you can shop for today. Let's review who offers the best home energy rate in town!
Shifting Cincinnati PTC Energy Rate
Duke Energy's Price to Compare rates fell on October 1 to 10.49 cents per kilowatt-hour (kWh). This means an average supply charge of about $89 per month for 846 kWh of power. That sounds like great news. However, since 2021, the utility's PTC rate has risen 88% from 5.56 cents per kWh. That's almost double the cost in 6 years. Some of this is due to rising wholesale costs, some to higher transmission costs, some due to inflation. Plus, the growing number of Ohio data centers is pushing PJM capacity auction prices higher, adding to the cost.
Sadly, these rapidly rising Duke Energy PTC prices also mean customers are getting hit with rate increases every three months. And with rising fuel and food prices, this makes it even harder for Ohio families to get by.
But, locking in a fixed rate plan with the best electric supplier can protect you from sudden rates hikes. They can also help keep your monthly energy bills more predictable and easier to budget.
Best Short-Term Cincinnati Energy Rates
For example, if you lock in with the Clearview Energy Clear Guarantee 9 plan, then you would pay 9.69 cents per kWh. This equals a monthly supply charge of about $82 per month ($7 less than current PTC rates).
If your home uses 1500 kWh per month or more, then you may be interested in their Clear Guarantee 9 Plus plan. This plan charges 8.19 cents per kWh with a $19.99 MRC. The trick with MRC plans is that high use homes tend to save more as they use more power. For a home using 1500 kWh per month, this means paying a monthly supply charge of about $142. Compare this to the $157 you would pay for the same amount of energy under current PTC rates.
In either case, Clearview Energy customers can find more value by taking advantage of shopping and dining discounts via their rewards program.
Shop 12 Month Home Energy Rates
Choosing a 12 month fixed rate is a great way to avoid periodic bills shocks and lock in a predictable rate. And right now, the Major Energy Secure Choice 12 plan is offering a rate of 10.99 cents per kWh. This equals a monthly supply charge of about $93 for 846 kWh of power. And customers can also get extra value by taking advantage of the deals found in the Major Energy rewards program.
Similarly, high usage homes can also consider locking in the APG&E True Classic 12 plan. This plan charges a stable 9.88 cents per kWh with a $16.99 MRC for a full year. For a home using 1500 kWh per months, an average monthly supply charge runs about $165.
To be clear, both these plans don't beat current PTC rates. But given uncertainty over severe winter weather and energy, both plans could save you money when the next Duke Energy PTC rate starts on January 1, 2027.
Which Home Energy Rate Should You Choose?
Ohio families know stable and predictable monthly bills are great budgeting tools during uncertain times. However, you should always consider your needs and how you use energy when you shop for Ohio electricity plans. PTC rates will change in three months, so it's best to shop and compare all your options so you can get the best deal.
Be sure to shop for the best home energy plans right here at https://www.ohenergyratings.com. You can also count on us for tips and news that could affect your bills.
