COLUMBUS (COLUMBUS BUSINESS FIRST) — Landlords and tenants in commercial buildings can expect their electric bills to start rising in June.
Utility pricing is based on the wholesale electric market and determined by the utilities during auctions conducted in November and March for the following June. In Central Ohio, wholesalers bid to provide electricity for AEP, according to the Public Utilities Commission of Ohio.
The March auction was on the 7th, and rates cleared about nine cents per kilowatt hour. In the November auction, rates cleared at 12 cents per kilowatt hour. The new AEP generation rate will be 10.2 cents per kilowatt hour, according to PUCO.
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