COMPETE Coalition Lauds Settlement in Duke Energy Ohio’s Rate Case
WASHINGTON, DC– A broad coalition of electricity stakeholders, including representatives of a wide range of customers and customer groups, competitive retail and wholesale suppliers, environmental organizations, and others, today praised a unanimous settlement agreement reached in Duke Energy Ohio’s Electric Security Plan rate case pending before the Public Utilities Commission of Ohio (PUCO).
“The settlement negotiated by more than 25 parties to the Duke Energy Ohio rate case supports competition, preserves customer choice and will ultimately increase opportunities for cost savings,” said Bill Massey, Counsel to the COMPETE Coalition. “That’s great news for business and residential electricity customers in Ohio.”
If approved by the PUCO, the settlement will help sustain and expand what currently is a robust electricity marketplace in Duke Energy Ohio’s service territory, where more than two-thirds of the total electricity used is now provided by competitive suppliers.
“Thousands of customers throughout the Duke Energy Ohio service territory already are taking advantage of the opportunity to save on their electric bills by actively shopping and choosing their electric supplier,” said Massey. “The proposed settlement will help ensure that the benefits of competition enjoyed by customers in recent years are expanded even further.”
The Duke Energy Ohio settlement also supports Ohio’s economic growth and job creation goals.
“Competition drives innovation and keeps customers’ energy costs as low as possible, making Ohio more attractive to businesses seeking to grow and improving Ohio’s competitiveness in the national and world economies,” said Massey. “The Duke Energy Ohio settlement will help sustain the kind of vibrant, competitive electricity market that spurs business investment, economic development and job creation.”
If approved by the PUCO, the proposed Duke Energy Ohio settlement would take effect January 1, 2012, and establish the rate plan that will be in effect through May 31, 2015.
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ABOUT COMPETE
The COMPETE Coalition is 600 electricity stakeholders, including customers, suppliers, generators, transmission owners, trade associations, environmental organizations and economic development corporations – all of whom support well-structured competitive electricity markets for the benefit of our country. For more information, visit www.competecoalition.com.
