The city recently locked into a fixed natural gas aggregation rate of $4.767/Mcf with Direct Energy Source, a rate that is almost $1 more than the previous deal with Vectren.
(In January, Direct Energy bought Vectren.)
"Stow’s expiring rate of $3.84/Mcf ($0.927 less than the new rate) is being replaced by another attractive rate that provides price certainty and the ability to leave the program free of charge at any time for any reason," said Service Director Mike Miller.
The current rate expires Oct. 31.
The new rate will be in place from November 2012 through October 2013. Residents and businesses that take advantage of the city's aggregation program will remain on the plan automatically.
Residents who are served by another supplier may seek enrollment in the city’s aggregation program or withdraw from being on the program by calling Direct Energy Source at 1-800-651-3202.
"We're pleased to serve the residents of Stow and look forward to growing the program’s enrollment,” said Cory Byzewski, vice president of Direct Energy Source. “Newly eligible accounts will receive an opt-out letter from Direct on or about October 19, 2012. Those residents will be added to the program unless they opt-out during a 21-day period as stated in the letter.”
Residents served by other suppliers are encouraged to review the terms and conditions of their current supplier agreement before enrolling. New customers to the program must be in good standing and cannot be part of the utility’s Percentage of Income Payment Program (PIPP).
The city is pleased to have made this program possible but asks that you do not call the city offices. It is not equipped to handle a large volume of calls. Residents should contact Direct Energy Source toll free at 1-800-651-3202 if they have any questions.
"We are pleased that Stow’s residents will have low heating bills again this winter. We hope many residents and businesses will take advantage of our City’s program," said Mayor Sara Drew.
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