AEP Ohio Energy Choice
Energy choice in Ohio is providing lower electricity price options for customers of the state’s largest utility AEP. AEP Ohio electricity customers are now able to shop the competitive energy market from alternative power companies that are entering the Ohio market at a rapid pace.
The lowest AEP Ohio electricity rates are yielding savings between 14-17% off of the utility default rate. In Ohio, when a customer does not shop for power rates in the competitive market place, they pay a default electric rate for their power supply through their local utility. The Ohio utility companies, such as AEP, still play a major role in the Ohio competitive electricity choice market acting as the primary power delivery company for their customers. AEP Ohio also facilitates a bidding process for competitive energy companies to service the default rate payers. The auction is how the default price to compare rate is determined.
Despite the large savings opportunities only 25% of AEP Ohio customers are currently buying their power supply from companies other than AEP. The low switch rate is likely a result of an uneducated marketplace and mass confusion concerning Ohio energy choice. Some people are concerned that switching electricity companies could result in their homes receiving lower quality power or even rolling black outs. This is far from the truth. While Ohio residences do have the ability to choose who supplies their power, the delivery and reliability of the power supply is still regulated by the Public Utilities Commission of Ohio.
For those AEP Ohio customers who are still paying the default electric rate and have not taken the time to shop for lower electric rates, reducing their monthly electric bill by 10-20% can take as little as five minutes through online energy comparison tools. Below are current competitive AEP Ohio electric rates updated every hour.