City of Cincinnati Selects Constellation as Natural Gas Supplier
September 09 2015 - 9:30AM
Business Wire
Two-year municipal aggregation agreement offers
customers flexibility to take advantage of current low prices,
discount option for seniors
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 69,000 Cincinnati residents and small businesses.
Constellation was selected following a competitive bidding process
under the state’s natural gas choice governmental aggregation
program.
Under the terms of the agreement, the program’s monthly variable
rate is based on the New York Mercantile Exchange price for natural
gas plus a fixed charge of $0.1163 per one hundred cubic feet
(Ccf). Residents will be charged a $0.65 administration fee per
month. At points during the 24-month agreement, if the city
determines market conditions are favorable, the program rate may be
converted to a fixed rate.
“The natural gas aggregation program offers residents an easy
option to manage and limit their energy costs for at least the next
two years,” said City Manager Harry Black. "This is a good deal for
the city and a great opportunity for our residents.”
Natural gas supply under the new agreement is scheduled to begin
with October 2015 meter reads and continue through September
2017.
“This agreement allows Cincinnati customers to 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,” said Bruce Stewart, senior vice president and chief
marketing officer for Constellation. “As a national energy
leader with deep roots in serving Ohio residential as well as
commercial, industrial and governmental customers, we look forward
to serving Cincinnati residents and small businesses.”
Additionally, 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.
Constellation will work with the City of Cincinnati to notify
all eligible customers of the new natural gas supply variable rate,
terms and conditions. Residential and small commercial retail
customers will have the right to opt out of the aggregation program
without penalty.
Eligible residents will receive more information in the mail.
Customers who do not opt out, but later choose to leave the
program, can do so at any time within the two-year term without
penalty.
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.
About Constellation
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 more than 2.5 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 2014 revenues of
approximately $27.4 billion, and more than 32,000 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150909005400/en/
ConstellationKelly Biemer,
410-470-9700Kelly.Biemer@constellation.com
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