MOUNT VERNON — Officials with the city of Mount Vernon have announced they selected AEP Retail Energy, the non-regulated subsidiary of American Electric Power, as its preferred electric provider.
On Nov. 8, residents approved a ballot issue authorizing the city of Mount Vernon to establish an Opt-Out Electric Aggregation Program. The city is working with its consultant, Thomas Bellish, president of Buckeye Energy Brokers, to implement the aggregation program. In an effort to allow residents to start saving now, an endorsed mailer from the city has been sent this week allowing residents in the community to take advantage of the immediate savings offered by the Endorsed Program negotiated by the city.
The rate for residents under the city’s Endorsed Program is 9 percent off AEP Ohio’s average Price to Compare. The initial rate will be 6.85 cents per kWh effective January 2012. It covers the January 2012 through February 2014 billing cycles. The rate excludes the distribution service and customer charge provided by the utility.
“We have asked AEP Retail Energy to send out the endorsed mailer in response to AEP Ohio’s proposed rate plan. If approved, the plan could limit participation in the Opt-Out Program in 2012. We thought it made sense to allow customers to proactively sign up, which would provide savings to those residents right away,” Mayor Richard Mavis said. Space may become limited in the Endorsed Program and he suggests that residents sign up sooner rather than later.
“Our goal was to provide residents with a competitive energy rate,” said Bellish. “In working closely with city officials, we’ve identified the best pricing available right now for residents. Other offers we have seen have been higher.”
Residents who live in the city of Mount Vernon are eligible to participate in the program, and will receive information in the mail describing the offer this week. Those wishing to sign now will need to call AEP Retail Energy directly at 1-885-299-7372 or complete and return the enrollment form to AEP Retail Energy. AEP Retail Energy encourages customers to enroll by Dec. 23 to ensure that they start the program with their January 2012 billing cycle.
Those who enroll in the city’s electric program will continue to be billed by the local electric utility, AEP Ohio. AEP Retail’s supply charges will appear as a line item on the bill.
