According to a press release from Affordable Gas and Electric (AGE), the city of Urbana has entered into a new electric aggregation contract with Dynegy Energy Services to begin with the December 2024 meter readings.

This agreement applies to eligible participants who do not opt out of the program.

The new rate will be fixed at $0.0718 per kilowatt hour for a 12-month term. The current rate for city of Urbana customers is $0.0499 per kilowatt hour through a contract with Energy Harbor.

The city of Urbana is part of a group of 21 communities that negotiate rates collectively through the AGE consultant.

The new aggregation rate from Dynegy beginning in December will be a 16.5% savings compared to AES Ohio’s current price-to-compare $0.0858 per kilowatt hour. The current contract with Energy Harbor has a savings rate of 42% over AES rates for the duration of the term ending with December.

These rates are only for the supply of electricity. It does not apply to the transmission and delivery of electricity to customers, which is set by AES and cannot be negotiated in aggregation.

AGE will mail notices in mid-October to affected and eligible customers with instructions on how to participate.