Rate Changes in AES Ohio Territory

We wanted to inform you about upcoming changes in the electricity rate charged for properties and residents in the AES Ohio territory.

Following the recent procurement auctions, we have been informed that AES’s generation portion of the residential rate is expected to decrease by nearly 20%. This new generation rate will be in effect beginning June 1, 2024, and run until May 31, 2025.

Please note that this decrease impacts only the generation portion of the rate and does not impact transmission, distribution, or fixed charges. Therefore, it is incorrect to state that electric bills will decline by the same percentage.

Additionally, the percentage listed refers specifically to the residential rate, but this rate adjustment may also impact your common area usage costs and any commercial customers at your property. As a reminder, NEP is contractually obligated to calculate bills at rates that track those of the local utility.

We understand that accurate, timely information is crucial to managing your business effectively. That's why we wanted to ensure you are fully aware of these pending changes and can plan accordingly.

If you have questions, you are always welcome to Contact Resident Support.