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Kenton residents will be able to save 15 percent on their electric bills through a new aggregation program adopted by voters in November.
The city has selected IGS Energy of Dublin to be its provider of electricity to residents.
The savings will begin within one to two billing periods following their inclusion in the city’s program and end with the May 2015 billing period.
Under this program, Kenton residents will pay 15 percent less per KWH consumed than the applicable month’s American Electric Power Price to Compare. The savings calculation will be based on a standard customer profile and it applies to the generation and transmission components of the electric bill. It will vary as customers’ specific usage profiles change from the standard profile.
According to IGS Energy, if AEP’s Price to Compare changes, residential rates will change but the 15 percent savings to the standard profile will continue.
People unhappy with service from IGS Energy can cancel free of charge at any time and return to AEP service.
The savings to eligible businesses is expected to be about 13 percent.
A letter explaining the program will be going out to city residents next week. People are automatically enrolled in Kenton’s aggregation program unless they chose to “opt out” by returning a form enclosed with the letter.
AEP will continue to maintain the system that delivers power to homes and businesses. People will still contact AEP regarding loss of service or any other service issues. People will continue to receive a single bill from AEP for electric service with the lower IGS Energy rate included.
Council President Joel Althauser said among the options the city had to consider was one that would have returned money to the city. However, he said this was rejected so there would be more savings to residents.
By TIM THOMAS