Baltimore voters can lower electric rates
BALTIMORE - Village of Baltimore voters have an opportunity on Nov. 5 to vote in favor of electricity aggregation – a bulk-buying practice that increases buying power and could lead to electric rates up to 20 percent lower than AEP’s rate.
Village council members unanimously agreed last summer to place the electric aggregation issue on the November ballot.
If voters approve aggregation in November, the Village of Baltimore will be authorized to combine its households and small businesses into a buying group, resulting in more competitive pricing.
In 1999, the Ohio legislature approved legislation providing local governments the opportunity to aggregate the electric power purchasing of its residents to negotiate a bulk rate that is stable for an agreed-upon term, as well as potentially lower than what a customer might pay on an individual basis.
“Aggregation brings long-term budget stability by locking in rates for a year or more. Electric aggregation affords all American Electric customers in the Village of BaltiPower more, both residential and business customers, with exclusive discounted monthly electric rates, said Mayor Robert Kalish. Anytime the council can provide a potential cost-saving or budget-stabilizing opportunity to the hard-working constituents, it’s a win-win.”
If the referendum successfully passes, every eligible customer who has not already signed up with an alternative supplier will be enrolled in the program, but will be given the opportunity to opt-out.
Under aggregation, residents and small businesses continue to receive one monthly bill from AEP; additionally, AEP will still distribute power to homes and businesses and respond to outages.
For more information about aggregation, visit: www.PUCO.ohio.gov.