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Lower auction prices are driving the reduction, the utility said.
As a result of a series of competitive bids in a recent auction, DP&L residential customers will pay less on their electric bills.
Customers receiving their electricity from other third-party energy suppliers will not see the decrease secured by DP&L.
“DP&L customers can always depend on the delivery of safe and reliable service they expect from their local utility,” AES United States Strategic Business Unit President Lisa Krueger said in the company’s release. “As energy usage demands increase with the summer heat, and with families continuing to spend more time than usual at home due to the coronavirus pandemic, we are pleased to help our customers save on electric bills.”
DP&L said it maintains the lowest residential rates across Ohio’s investor-owned utilities and are among the lowest residential rates in the country.
DP&L delivers electricity to more than 525,000 customers in West Central Ohio.
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Both Duke and Akron-based FirstEnergy have made similar moves, citing lower supply prices secured in auctions.
FirstEnergy said this week its Ohio residential customers who take generation service from the utility will pay lower prices starting June 1.
With Ohio’s “deregulated energy market,” customers can shop for their electric generation from a third-party supplier while the utility delivers electricity to homes and businesses and maintains distribution infrastructure. DP&L participates in a competitive auction process overseen by the Public Utilities Commission of Ohio to acquire the electricity needed to serve their non-shopping customers.