The City of Loveland is pleased to announce a low fixed rate for members in the city’s electric aggregation program. The city selected Energy Harbor as the program’s supplier following a competitive proposal process for a four-year program starting with the May 2021 meter read.
Energy Harbor won the competitive proposal process and is replacing Dynegy as the program’s supplier. Program members will pay a low fixed rate of 4.51 cents/kWh for their May 2021 through May 2025 meter reads. Residents should look for a mailer from Energy Harbor on or about March 25, announcing the new rates, terms, and conditions.
“We’re excited about the four-year offer of 4.51 cents/kWh, which is the lowest offer in the history of Loveland’s electric program. The savings will keep a great deal of disposable income in Loveland and will allow residents to predict their costs for the next four years,” said Dave Kennedy, Loveland City Manager.
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 the city negotiated and the means to opt-out should a customer choose not to participate in the program. Residents will have 21 days to return an opt-out card to Energy Harbor.
Andrew Burns, Government Aggregation Manager of Independent Energy Consultants, added that customers who are currently served by other suppliers may also join the city’s program by contacting Energy Harbor at (866) 636-3749. 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 has negotiated a secondary option where residents can choose a 100% renewable power offer of 4.68 cents/kWh if they wish. Interested residents should call Energy Harbor at (866) 636-3749 and ask for the City of Loveland’s 100% renewable offer.
The city is pleased to have made this program possible but asks that you do not call City Hall for questions. They are not equipped to handle a large volume of calls. If residents have any questions, they should contact Energy Harbor directly at (866) 636-3749 after the opt-out notice arrives by mail.