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Posted on: April 4, 2019

City of Loveland Sets New Rate For Electric Aggregation Program

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City of Loveland officials are pleased to announce that they have established a low fixed rate for members in the City’s electric aggregation program. The City selected Dynegy as the program’s supplier following a competitive proposal process for a two-year program starting with the May 2019 meter read. Dynegy recently won a competitive proposal process and is replacing Constellation as the program’s supplier. Program members will pay a low fixed rate of 5.015 cents/kWh for their May 2019 through May 2021 meter reads. Residents should look for a mailer from Dynegy on or about April 8th, announcing the new rates, terms and conditions. 

“We’re excited about the two-year offer of 5.015 cents/kWh which is lower than the expiring rate that served us well. The savings will be a benefit to our residents,” said Dave Kennedy, City Manager of Loveland. Kennedy concluded by saying, “Current program members and those customers who are receiving their electric supply from the local utility, Duke Energy, will receive an opt-out letter. The letter will explain the low offer we negotiated and the means to opt-out should a customer not want to participate in the program. Residents will have 21 days to return an opt-out card to Dynegy, if they decide not to participate.”

Mayor Kathy Bailey said, “We are delighted by the low fixed rate for Loveland residents and businesses. This low rate will allow residents to predict their costs for the next two years. Our rate of 5.015 cents/kWh is very attractive, and we expect participation rates in our program to be high. Customers who are currently served by other suppliers may also join the City’s program by contacting Dynegy at 888-682-2170.”

Customers served by another supplier should review the obligations in their existing contract before joining the City of Loveland program, as many suppliers charge a fee for early termination. Customers wishing to join the program must be in good standing with their bill payment and cannot be part of the utility’s percentage of income payment program (PIPP).

The City is pleased to have made this program possible but asks that you do not call the city offices. They are not equipped to handle a large volume of calls. If residents have any questions, they should contact Dynegy at 888-682-2170 after the opt-out notice arrives.

Click Here for Frequently Asked Questions (FAQ) regarding the City's Electric Program.

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