Gas Aggregation Program
Natural Gas Aggregation Performance Information
As the weather turns colder and residents start to get their energy bills, we wanted to touch base on a few things.
Natural Gas Aggregation Performance
We are seeing an excellent start to the aggregation vs. Duke’s rates. Though you’ll receive a full detail performance report in the next couple months, here is how the first 3 months of the program look depending on what County Sales Tax rate your community has.
Savings Compared to Duke
7% Sales Tax
7.8% Sales Tax
*Duke published their GCR for January on 12/13.
Higher Natural Gas Bills
We are starting to get a lot of calls from residents about their higher bills and they are concerned it’s the aggregation rate. In almost every case it is because of a significant jump in your natural gas usage from November to December. We’ll expect this to increase even more from December to January due to cold weather in the forecast and getting deeper into winter.
Please take a look at your change in natural gas usage from month to month and how that may relate to your higher bills. Take a look at what your gas usage was like last year compared to this year. Your Duke Energy bill has a natural gas chart to make it easy to see.
As always, feel free to call Energy Alliance at 513-794-5555 if you have any questions.
Turtlecreek Township Gas Aggregation Program
Any qustions can be directed to Energy Alliance at 513-794-5555
- Price: $0.839 per ccf
- Term: October 2022 to October 2024 (24 months)
- Termination Fee: None
- Supplier: AEP Energy
Opt-Out Materials and Process
- Depending on the size of your community and when your resident’s meters are read, letters will go out anytime between late August and mid-September.
- Regardless of when the letter is mailed, you will still have 21 days to opt-out.
- Opting out will be possible by either sending back the tear off on the letter or by calling AEP Energy at an “800”. AEP is still setting up the number and I’ll share once we have it.
Energy Alliances Website
Did you know you have a dedicated page on our website for your aggregation program(s)?
If not, check out https://energyalliances.com/communities.
Technical/Detailed FAQs (optional for those that want more details)
We know the FAQS to the residents will be “simple”. We wanted to provide some more technical details to questions that you may receive from either residents or even your elected officials.
- “Why did we lock in at $0.839 per ccf?” – A fixed price natural aggregation program is all about protecting the risk for a winter spike. Market information tells us that there is a high risk for increasing prices this winter due to low natural gas storage, increasing consumption and increased exports. We understand prices could come in lower than $0.839 per ccf. However, we truly believe the feeling of residents being at risk of paying $1.00 per ccf would hurt significantly more than if the price fell to $0.678 per ccf.
- “I saw a price for lower than $0.839 per ccf. What can they do?” – Natural gas is a commodity just like gasoline where the prices change every day. During the term of this aggregation program, there will be offers in the market that are both higher and lower than the aggregation rate. It may be because the market prices moved or the offer is for a shorter/ longer term, etc. Residents are free to come and go out of the aggregation program any time they want without a termination fee if they find an offer that they feel is better for them than the aggregation program. The aggregation program offers the residents fixed price protection which Duke Energy’s variable Gas Cost Recovery rate cannot.
If a resident decides to shop on their own, it is also up to them to keep track of renewal rates. We saw many residents this year that received natural gas renewal rates above $1.00 per ccf and electric rates above $0.10 per kWh.
- “What happens if prices fall? Can we lower the price?” – We will continue to watch the market and if there is an opportunity to “Blend and Extend” the contract while lower the price we will do so.