Ohio Natural Gas Utility Rates to Change - LOWER GAS UTILITY RATES COMING APRIL
[Is your gas utility bill going down? Find out what you can expect this spring from Ohio natural gas prices.]_Cheap natural gas is lowering your gas utility bill. Find out why and how you can lock in that cheap price for the long term!_
It’s not a trick. Lower natural gas utility rates are coming for many Ohio homes this April 1. The April 2024-March 2025 Retail Price Adjustment (RPA) is here. Don’t know what that means? The RPA helps set the price of gas on your utility bill. And to shop the cheapest natural gas [https://www.ohenergyratings.com/deals] plans, it's important to understand how it works. So, we’re covering how the standard service adders are determined, and how those changes affect each gas company.
HOW RPAS AFFECT YOUR NATURAL GAS UTILITY BILLS
In Ohio, natural gas utilities are required to offer a standard choice offer (SCO). This is for anyone who chooses not to pick a third party supplier. Their rates are based off of the market price of natural gas, as well as the transport and delivery of natural gas to your home. The RPA is determined through annual auction [https://puco.ohio.gov/news/news-bureau-gas-auctions]. Each month afterward, that amount is added to the NYMEX price of natural gas. This amount becomes the gas utility's SCO price. If you watch NYMEX natural gas prices, you'll see that they can change every few months.
NATURAL GAS RATES ARE FALLING
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