Recent competitive auction results lead to a lower price
DAYTON, Ohio, June 8, 2020 /PRNewswire/ -- Dayton Power & Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), today announced it has decreased the price by 4.5% for residential customers who receive their power supply from the utility. This month, a typical residential customer using 1,000 kilowatt-hours of electricity monthly will pay $4.47 less than in prior months. DP&L's residential rates are the lowest in Ohio and this reduction provides even greater savings, representing an average of $54 on their annual electric bill.
"DP&L customers can always depend on the delivery of safe and reliable service they expect from their local utility," said AES United States Strategic Business Unit President Lisa Krueger. "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 continues to maintain 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. With the deregulated energy market in Ohio, customers can shop for their electric generation from a third-party supplier while the utility delivers electricity to homes and businesses and maintains the distribution architecture. DP&L participates in a competitive auction process overseen by the Public Utilities Commission of Ohio (PUCO) to acquire the electricity needed to serve their non-shopping customers.
As a result of a series of competitive bids in a recent auction, DP&L residential customers will benefit by paying less on their electric bill. The remaining customers receive their electricity from third-party energy supplier, and their bill will not reflect the decrease secured by DP&L.
About The Dayton Power and Light Company
The Dayton Power and Light Company is the principal subsidiary of DPL Inc. (DPL), a regional energy provider and an AES company. DPL's primary subsidiaries include The Dayton Power and Light Company, AES Ohio Generation, LLC (AES Ohio Gen), and Miami Valley Insurance Company (MVIC).The Dayton Power and Light Company, a regulated electric utility, provides service to over 525,000 customers in West Central Ohio; AES Ohio Gen co-owns a merchant generation facility; and MVIC, a captive insurance company, provides insurance services to DPL and its subsidiaries. For more information about the company, please visit www.dplinc.com. Connect with DP&L at www.twitter.com/dpltoday, www.linkedin.com/company/dayton-power-and-light, and at www.facebook.com/DPLToday.
The AES Corporation (NYSE: AES) is a Fortune 500 global power company. We provide affordable, sustainable energy to 14 countries through our diverse portfolio of distribution businesses as well as thermal and renewable generation facilities. Our workforce is committed to operational excellence and meeting the world's changing power needs. Our 2019 revenues were $10 billion and we own and manage $34 billion in total assets. To learn more, please visit www.aes.com. Follow AES on Twitter @TheAESCorp.
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SOURCE Dayton Power and Light