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Can Toledo Save On Electricity?

Our country has hit a five-year high for natural gas storage. Also, NOAA weather predictions suggest that temperatures may be above normal for a third of the country this winter. This could mean we may see cheap electricity rates in the spring. However, we have to keep in mind that we're facing winter weather patterns that can include long cold snaps and heavy snowfall. So consumers may be wondering if now the right time to shop for long term electricity in Toledo.

Will Natural Gas Prices Rise?

The EIA reports that current natural gas storage is above the five year average. And with a third of the US maybe having warmer than normal for the next few months, natural gas used to fuel energy demand may be lower than normal. As a result, natural gas prices could stay low.

However, while forecasters predict a weak La Niña, there's a chance it might not happen at all. ENSO-neutral winters tends to bring colder air to the north. This means a higher likelihood of snow along the Ohio River valley. While it may not be a bitter cold, snow cover means cold temperatures could last longer than normal.

We also have to keep the polar vortex in mind. Forecasts suggest it could stretch and cause a few chilly nights after the holidays. But, there is also a chance for much longer cold snaps to force homes to crank up the heat in the next months. As you can guess, this could mean more energy demand and the potential for higher prices and rates.

Long Term Or Short Term Electricity?

Short term fixed rate plans (6-12 months) are a great option if you plan to move in 2025. Especially if you shop plans from electric suppliers that don't charge early termination fees. On top of that, if the natural gas supply stays high through to the spring, then cheap rates may follow into summer.

For example, the APG&E TrueSimple 6 plan charges 6.56 cents per kilowatt-hour (kWh). If you use 1000 kWh of electricity per month, this means a supply charge of about $65.60 per month. Compare this to the 8.25 cents per kWh that Toledo Edison charges. If you stuck with PTC rates, you would pay a supply charge of $82.50 per month for 1000 kWh of energy.

On the other hand, long term fixed rate plans (14 months or more) are a great option if you want more time with stable and predictable pricing. Locking in a great rate today means avoiding any price spikes that could come around if the natural gas in storage supply shrinks this winter.

For example; shopping around might lead you to the Energy Harbor Safe Harbor Value 14 plan. This plan charges 7.89 cents per kWh, which means paying $78.90 on supply charges per month. Not only is this about $4 cheaper than current Toledo Edison rates, but Energy Harbor offers some of the best customer service according to our readers.

Should Toledo Customers Shop Now?

Right now, signs point to a possibly warmer than average winter. If plenty of natural gas stays in storage it could lead to cheaper priced electricity. Sure, there's a chance for a change in the weather. But right now, shopping for a cheaper Toledo electric rate could save you money for the holidays.

You can always start your shopping right here at https://www.ohenergyratings.com. You can also count on us for the news and tips that could affect your bills.

A Hot Summer May Raise Energy Bills

States in the southern United States are seeing temperatures in the upper 90’s and some areas of Texas seeing temperatures over 100º already. This has led very quickly to natural gas prices doubling at the market level. The Texas grid has already issued its first summer weather watch. But don’t worry just yet. There’s still a large amount of natural gas in storage which means home energy prices should stay relatively low for a while. However, this will affect electricity prices as well as residential gas prices eventually. So, do you have a fixed rate locked in to keep your winter bills low? In not, then learn how you can stretch your energy dollars more. Shop these three lowest fixed rate electricity prices in Cincinnati now!

Lowest 12 Month Fixed Rate On The Market

Starting off strong, we have Public Power. Their Electric 12 Month Fixed Rate WITH MRC is just 6.59 cents per kWh. That makes it one of the lowest priced plans. The only catch? It does have a monthly recurring charge of $9.95. There is no early termination fee, and the term length is, of course, 12 months. At the end of your contract, you’ll be rolled onto a variable rate plan unless you opt for a new contract.

No Monthly Charge, No Early Termination Fee

Our next plan comes from Energy Harbor. Energy Harbor is one of our best rated suppliers for their excellent customer service. Their Safe Harbor 12 plan is only 6.78 cents per kWh, and has no additional charges or fees. This is a great way to save some money and avoid that utility default rate without breaking the bank.

A Great Option For Your Next Fixed Electricity Rate

Our last option for your electricity is from Frontier Utilities. Don’t let the name fool you. They’re not your utility company, they are still your supplier. But they do have a great rate. Their OH Frontier Online Premier-12 plan is just 6.89 cents per kWh. Additionally, this plan has no monthly recurring charge, or early termination fee. Frontier Utilities is also one of our best rated suppliers on the market. You can be sure you’ll be taken care of if you switch to this plan.

But What About Gas Rates?

With natural gas used to heat many Ohio homes, it would be a shame not to mention some of the cheapest gas rates you can get in Cincinnati. With wholesale prices already doubling from their price a month ago, you should shop your options ASAP. We can recommend looking at Symmetry. Their gas plans start at just .529 cents per ccf. Another great option is Constellation, with an 18 month plan at .559 cents per ccf. And finally, CleanSky, which has gas plans starting at just .560 cents per ccf in the Cincinnati area.

But whether you’re looking at saving on gas, or electricity this summer, we’re here to help you find the best deal. You can shop gas or electricity plans and compare providers all across Ohio. Check out www.ohenergyratings.com to compare rates and plans so you can save!