The city has received the following communication from NOPEC, the city electric aggregation company. As a result of rapid increases in rates, NOPEC is offering a remedy to customers.
Dear NOPEC customer,
These are tough times in the energy industry. Gasoline, natural gas, and electricity prices have all doubled since 2021 and NOPEC is not immune to current market and inflationary spikes. Here’s what NOPEC is doing to assist residents and small businesses:
NOPEC Electric Pricing
· The current NOPEC electric price is more than the current utility Price To Compare (PTC). The current PTC is low because the utility began purchasing the power more than 11 months ago when prices were much lower. This difference will continue until May 2023 when the utility’s pricing is expected to adjust to the current market and will likely increase. Until then, residents who are dissatisfied with NOPEC’s current electric pricing can call the NOPEC Customer Care Center at 855-667-3201 and ask specifically to be dropped to the utility's default service at no charge- but not to “opt out”. Residents who drop NOPEC now can always rejoin when markets normalize. Our customer service team will be ready to receive these calls and will explain the process and the consequences of ‘opting out’ instead of ‘dropping’.
· Every three years we are required by the PUCO to send a letter to every NOPEC electric customer that includes updated pricing, rate options, terms, and opt out details. The next electric letter is expected to be mailed early (in mid-September) so that we can offer a more predictable and competitive rate starting January 1, 2023.
NOPEC Natural Gas Pricing
· Although the current NOPEC natural gas price has also increased due to the current market, the NOPEC price is still 12% LESS for Dominion and 28% less than the Columbia Standard Choice Offer (SCO) rates which are set monthly. NOPEC natural gas customers should be cautious of other retail offers that may end up costing them way more than the discounted rate they are receiving from NOPEC.
Final Message to Residents and Small Businesses
· Please be patient. Despite these troubling times, energy markets will stabilize.
· We have discovered that some nefarious energy suppliers are using this uncertainty to their own advantage. Residents and small businesses should be especially wary of offers that sound too good to be true. Most are deceptive and have costly consequences. Consumers should never share their utility bill or account information with anyone that contacts them unprompted and should review the fine print very carefully before signing any contract.
· As an extra precaution against high utility bills, NOPEC continues to closely monitor current energy-related regulation and legislation to strongly advocate against unfair passthrough charges and rate hikes.