The Village of Covington has finalized agreements to extend the electric and natural gas aggregation programs beyond the end of the current term for each program. Together with Affordable Gas & Electric (AGE), the Village’s aggregation consultant, long term electric and natural gas supply rates have been secured for future rate certainty for all eligible residents and small business DP&L and Vectren utility customers.
In November of 2016, voters in the Village of Covington passed ballot measures for the Village to pool together eligible customers and shop for bulk electric and natural gas supply rates on behalf of eligible residents and small businesses through an opt-out aggregation program. Currently, Dynegy serves the Village’s electric aggregation program at a fixed rate of $0.0529/kWh that is secured through April of 2020. On the natural gas side, Constellation is the current contracted supplier at a fixed rate of $0.423/Ccf that expires on April 30, 2019.
Through recent negotiations handled by AGE for the Village of Covington and several other neighboring communities throughout the Miami Valley, both programs have secured rates below the current prices for the extended terms. Dynegy again won the contract for the electric aggregation program with a rate of $0.0488/kWh that is set to begin at the end of the current contract’s term in April 2020. The new rate is a fixed price for a term ending in December 2021. Volunteer Energy won the contract during this bidding period for the Village’s natural gas aggregation program. Beginning on May 1, 2019 Volunteer Energy will be supplying participating residents with a fixed rate of $0.371/Ccf for a 24-month term.
All current participants, and any newly eligible customers, of the aggregation programs will be sent new opt-out notices from the respective suppliers approximately 45 days prior to the start of the new aggregation rates for each program. Anyone receiving the opt-out letters do not have to do anything in order to take advantage of the new rates. Your accounts will automatically be enrolled as long as you do not opt-out. As always, opting-out of the aggregation programs comes with no penalty to residents and small businesses and can be done at any time throughout the program.
If you have any questions about the newly secured rates, your eligibly status, whether you are currently enrolled in the aggregation programs or wish to sign up for the Village’s electric or natural gas aggregation programs we would ask that you contact Jordan Haarmann of AGE at 618-203-8328. He will be able to provide guidance to assist you in any manner.