Potential savings for Cincinnati residents nearly $20 million
CINCINNATI – A new report by Ohio Citizen Action shows that ballot measures authorizing Greater Cincinnati local governments to negotiate group buying rates have passed by wide margins and produced significant savings for residential and small business consumers in those communities.
In August, Cincinnati City Council approved ordinances sponsored by Vice Mayor Roxanne Qualls to put Issues 44 and 45 on the November 8 ballot. If approved, the measures would authorize the city to use a tool that has allowed communities around the state and in Southwest Ohio to secure savings for residential consumers on their electric and gas bills by allowing competitors to bid for their business.
A potential competitor to Duke Energy Ohio has estimated that if voters authorize the city to negotiate a new group buying rate with Duke Energy Retail or another electric supply provider, competition could return nearly $20 million citywide – $200 to $250 annually per household – to consumers in savings on their electric bills.
— press release, Rachael Belz, Ohio Citizen Action