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City hears update on electric aggregation rates as market pressures could raise prices in June
Summary
Aspen Energy representatives briefed council on the city’s electric aggregation program and RFP results, warning market-driven wholesale price increases could push standard offer rates above the aggregation price starting June 2025 and complicate resident communications.
Council members and Aspen Energy representatives discussed Bexley’s electric aggregation program during a second-reading agenda item on Feb. 11, with vendors warning that wholesale capacity pressures and new data center demand could raise regional prices beginning June 2025.
John and Jay of Aspen Energy reviewed the current program and RFP results and explained that the aggregation program’s current generation rate is 6.86 cents per kilowatt-hour under a 20-month contract that began in September 2023 and runs through May 2025. Aspen representatives said the program has saved the community about $1.2 million to date and has remained below the AEP standard-choice price during the contract term.
Why it matters: auction and capacity changes on the PJM grid are expected to push the AEP standard-choice offer substantially higher for the June 2025–May 2026 period,…
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