CINCINNATI--(BUSINESS WIRE)--For the second consecutive term, the City of Cincinnati has selected Constellation, a subsidiary of Exelon Corporation and a longtime competitive energy supplier in Ohio, to provide monthly variable-rate natural gas supply to more than 40,000 Cincinnati residents and small businesses. According to city officials, the program saved participants a total of $2.1 million dollars in 2016, as compared to the Standard Service Offer from the utility during that period of time.
In addition, the City of Cincinnati will be able to provide customers with a new enhancement to the program that allows them to reduce their carbon footprint. Through this voluntary program, Constellation will purchase carbon offsets generated from renewable natural gas sources such as landfills or farms to offset CO2 emissions associated with each customer’s natural gas use.
“This agreement gives residents an easy option to manage their energy costs and makes Cincinnati the first city in the country with aggregation programs to offer participants the option of 100 percent carbon-free energy,” said Michael Forrester, Energy Manager for Cincinnati.
Residents age 65 or older, who participate in the aggregation program, may opt to receive a discount of $0.01 per Ccf off the monthly variable rate or any applicable fixed rate by contacting Constellation.
“We look forward to continuing to serve Cincinnati residents and small businesses,” said Kevin Klages, senior vice president of mass markets for Constellation. “Cincinnati customers can take advantage of the competitive prices we’ve been seeing in the natural gas market while giving the city the option to lock in a fixed rate at a later date. Additionally, residents can opt-in to a program that will use carbon offsets, which will substantially reduce their carbon footprint.”
Under the terms of the new agreement, scheduled to begin with October 2017 meter reads and continue through September 2020, the program’s monthly variable rate is based on the New York Mercantile Exchange price for natural gas plus a fixed charge of $0.1217 per one hundred cubic feet (Ccf). At points during the 36-month agreement, if the city determines market conditions are favorable, the program rate may be converted to a fixed rate.
Other than the price and supplier, residents who participate in the program will experience no change in their natural gas service and will continue to receive one monthly bill from Duke Energy – Ohio, the utility responsible for delivering natural gas to customers’ homes and maintaining the system.
The City of Cincinnati reminds residents that no one from the city will come to their home to ask them to join the aggregation program. To learn more, Cincinnati residents can contact Constellation toll-free at (844) 830-3336 or online at www.constellation.com/oh-cincinnati. Constellation customer service representatives are available 24 hours a day, seven days a week.
This offer sold by Constellation Energy Services – Natural Gas, LLC., an independent natural gas supplier licensed by the Public Utilities Commission of Ohio, license number 10-186G(3). Constellation’s price does not include any taxes, utility distribution charges or other utility fees, charges or credits, and is subject to the terms of the agreements with the City and the participants.
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2.2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider, with 2016 revenues of approximately $31.4 billion, and more than 35,500 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.