Duke Energy Ohio says residential power bills will go down about 3.6% starting June 1.
Homeowners using 1,000 kilowatt-hours per month of electricity and purchasing it from Duke can expect about a $4.24 decrease from May on their June bills. The average monthly bill is projected at $114 in Ohio.
“The driver for this upcoming reduction is the price Duke Energy Ohio pays to acquire electricity for its customers who have chosen not to switch to a third-party energy company for their electricity supply,” the company says in a statement. “Duke Energy Ohio uses a competitive auction process to secure electricity for these customers. As a whole, recent winning bids have been lower than past bids – leading to lower charges for the electric supply portion of monthly power bills.”