Members of Southern Ohio Public Energy Council (SOPEC)’s electric aggregation program will see a rate reduction beginning with February’s meter reading, thanks to negotiations between SOPEC and AEP Energy, the Athens Messenger reports. What began with a request from AEP Energy to “pass through an additional $5.42/MWh charge for residential and small commercial customers in order to meet required capacity performance billing” ended with rates lowered instead of raised, a two-year extension for AEP Energy as the program’s electricity supplier, and a “switch to 100% renewable energy,” up from 25%, according to the article. Major “changes in energy markets” caused a drop in SOPEC customers starting in July 2015, when AEP Ohio rates dropped below SOPEC’s rate, which had previously been “24 percent below AEP Ohio.” According to a news release from SOPEC, “the program’s generation rate of $64.30 per megawatt hour will drop to $59.59/MWh,” which will be good through June 2018.
SOPEC deal with AEP will extend contract, lower prices
