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How Commercial Electric Choice Saved Ohio Businesses $3.5 Billion

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It's no secret: electric choice is paying off for businesses. 

Energy Research Consulting Group (ERCG) recently released an independent study examining the electricity cost savings achieved by commercial customers that switched from the default utility rate to a retail energy supplier in a number of deregulated states and regions.

Businesses in Ohio have particularly benefited from electric choice. Between 2011 and 2015, the Buckeye State's commercial customers saved an estimated and staggering $3.5 billion simply by switching to a retail energy provider. That translates to an average of $706 million in commercial electric savings each year. 

What accounted for the savings? 

According to ERCG, the significant discrepancy between the state's utility and market rates is largely attributable to regulations. Until recently, Ohio utilities set their standard offer rates in a regulatory proceeding designed to protect customers from potential price shocks. Unfortunately for utility customers, those rates were set much higher than the prevailing market rates for the 2011 to 2015 analysis period.

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Our new eGuide further showcases the savings achieved in states like Ohio and highlights how your business can potentially make the switch to a retail energy provider. The slideshow below offers a brief preview of the report. 

Learn how much businesses saved on electric choice in other states. 

Download the Full Report

Posted: June 02, 2017