Natural Gas and Electricity News

Natural Gas and Electricity Update
August 13, 2024

FIRST, THERE’S BEEN A CHANGE IN THE DATE OF THE ANNUAL NATURAL GAS AND ELECTRICITY INFORMATION MEETING. IT WILL NOW BE ON THURSDAY, SEPTEMBER 26 AT 6:30 AT THE HUMAN SERVICES CENTER AT 2 COMMUNITY DRIVE BEHIND THE COMMUNITY CENTER. BE SURE TO BRING YOUR MOST RECENT GAS AND ELECTRIC BILLS SO THAT YOU CAN BE SURE YOU’RE NOT PAYING TOO MUCH.

NATURAL GAS: The monthly variable rate in effect from August 11 to September 11 went down from $2.82 per mcf to $2.10. That means NOPEC’s variable rate will be $2.08. Not bad, a drop of 72 cents. I know, I know, it’s summer and you don’t use much gas. But as I’ve been telling people who call me at 440-526-2606 to ask whether to go fixed or variable, I’m sticking with my opinion from the beginning of 2024 of going variable. I watch the futures every week and they have stayed below fixed rates and it appears that trend will continue even through the winter. If that projection changes you will hear about it here or in the Brecksville Bulletin. Speaking of going variable, if you have NOPEC’s program rate of $3.41 we suggest changing it to the variable. If you have NOPEC’s fixed rate of $4.25 and want to keep it call NOPEC at 855-667-3201 and ask when that rate expires and what rate will replace it.
At this time of year, the for-profit companies will begin coming out of the woodwork trying to get you to switch to them. They can be attractive rates, perhaps lower than NOPEC’s, but as I like to say, be careful, because they can be what I call, “delayed bait and switch.” That means, the rate looks good up front but at the end of the rate term it can increase significantly. You must pay attention! This fall you will get one or more mailers from the for-profit companies or a phone call or even someone coming to your door trying to sell you their electricity or natural gas plans. Be especially careful of people who come to your door. Do not yield to pressure tactics and sometime untruths. Do not sign up for any offer before contacting me at 440-526-2606.

ELECTRICITY: If you have NOPEC’s fixed rate of 6.5 cents per kilowatt hour hold on to it. NOPEC’s current fixed rate is 6.8 cents. At this writing that is the best electricity rate available! There are lower rates but, in my opinion, they are not worthy of your attention. If your rate is 6.49 it ends at the end of this year. Therefore, you will need to contact NOPEC at that time to learn what rates are available then.
If you want “green” (renewable) electricity NOPEC’s rate is 7.22 cents per kwh for
2 years with no early termination fee. But remember, that DOES NOT MEAN that the electricity coming into your home is 100% renewable BECAUSE IT’S NOT.
Finally, when in doubt, always call Ted with questions. 440-526-2606.
The opinions expressed are those of Ted Lux and do not necessarily reflect those of Mayor Kingston or City Council.