Electric supply rates are increasing. You may have received an ‘Opt Out’ notice from Dynegy Energy and the Village of Silverton in the past week. This is for the Village’s electric aggregation program, a component of your Duke Energy billing. The Village has offered an aggregated electric supply rate since voters approved aggregation in 2014.

The Village secured a rate of 9.15 cents per kWh until May 2026, which will take effect on the bill you receive in May 2025. Duke Energy’s electric supply price to compare for March is 8.18 cents per kWh. If you are comparing prices, please understand that this is March’s rate and rates are increasing. It is predicted that Duke Energy’s electric supply rate will exceed 9.15 cents per kWh, making our rate advantageous to those eligible to be enrolled in Silverton’s electric aggregation program.

Does the Village get anything from aggregating electric supply? No. The Village receives no compensation or kickback. We offer aggregation to provide a lower supply rate to our eligible residents and businesses.

Why would the Village put a higher rate in place than what Duke Energy currently offers? The 9.15 cents per kWh impacts your bill starting in May. Duke Energy’s rate is predicted to be higher than this aggregated electric supply rate. Therefore, we feel confident that this electric supply price will be a lower rate.

What do you think I should do? The Village’s aggregation program has no penalty to get out. If you received a notice, you do not need to do anything to be enrolled in this supply price. You can terminate anytime if you are enrolled and find a lower rate. Likewise, you can enroll later if you feel your best option is to Opt Out now and you change your mind. Please be aware that enrolling will take 1-2 billing cycles. Due to this required enrollment timing, we recommend enrolling in the aggregated program until you see a better price.

If you have questions or want to contact Dynegy to enroll or terminate, they can be contacted at 1-888-241-4599.

If you have questions for the Village, don’t hesitate to contact Jack Cameron, Village Manager, at 513-936-6240.