Ohio Edison Customers Race to Lower Their Rates

Ohio Edison Savings Potential by Todd Yasbin

 

Ohio Edison customers are in a race to find lower electric rates in order to avoid the effects of a 110% rate increase that went into effect on June 1, 2023.  Ohio Edison is raising their default Standard Service Offer rate due to high prices in the wholesale energy market that occurred several months ago.

In order to avoid the Ohio Edison rate increase customers need to learn about the benefits of electricity shopping in Ohio.

Ohio Edison Standard Service Offer Rate

The Standard Service Offer (SSO) is the default rate that Ohio Edison customers – who have not selected a competitive electric rate plan – pay for electricity supply.  The SSO rate went from 5.876¢ per kWh to 12.394¢ on June 1, which represents the 110% increase.

SSO rates are only charged to those who do not shop and participate in the Ohio electricity choice market.  For those customers who have not selected a competitive energy plan, taking the time to do so could help them prevent the 110% increase on their electric bill.  The increase should be expected for those SSO rate payers who do not take the time to shop for lower Ohio Edison electric rates.

How to Shop for Lower Ohio Edison Rates?

Participating in Ohio Edison electric choice is a simple process that can save customers a lot of money in as little as five minutes.  Here are the steps:
1. Go to an electric price comparison site
2. Enter in your zip code
3. Compare offers in your area which include price, term, termination fee, and generation source
4. Select the offer that best fits your desires
5. Enter in your information and Ohio Edison Customer Number
6. You’re finished.  The switch will occur at your next available meter read date

What is the Ohio Edison Customer Number

When switching electric suppliers you will need your Ohio Edison Customer Number and not the account number.  This serves as a high level of confusion for many customers.

The Ohio Customer number is a 20 digit number that starts with 08.  It is not your 12 digit account number.  In order to process the switch, the utility company needs the 20 digit customer number which can be found on your electric bill right above the line item charges.

The Customer Number can be found at the letter “H” below:

Reveals where a customer can find their customer number on the Ohio Edison electric bill

Ohio Edison Bill and Where to Find the Customer Number

Ohio Edison Customer Shopping Activity

n May of 2023 the Public Utilities Commission of Ohio reported that 45% of Ohio Edison customers, accounting for around 476,000 customers, were on the Standard Service Offer rate and thus going to be effected by the more than doubling of the price they pay for electricity supply.  That number had decreased from 542,000 customers in April of 2023, indicating that word was starting to get around about the drastic Ohio Edison rate increase.

Current low competitive rates in Ohio Edison are well below the SSO default rate.  In reality, there is no reason for any customer to be on the default rate this summer.  Below are current Ohio Edison competitive electric rates that are updated daily.


 

 

 

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