The city will hold a public meeting Feb. 12 for residents who have questions about Reynoldsburg's new electric aggregation program and the agreement with FirstEnergy Solutions.
The meeting will begin at 7 p.m. at City Hall, 7232 E. Main St.
Mayor Brad McCloud and other city officials will be on hand to explain the program and answer any questions.
Letters from FirstEnergy Solutions went out to residents this week, briefly explaining the program and including an opt-out form. If residents wish to take advantage of the program, they need do nothing and will be enrolled. Any resident who does not wish to be enrolled must complete the opt-out form and mail it to FirstEnergy.
McCloud said the city's aggregation program is an opt-out program, as approved by voters in November 2001. Eligible customers become part of the city's aggregation program automatically unless they opt out. Customers who are already saving under the current FirstEnergy program will be automatically entered into the new program.
The city receives a community grant in the amount of $10 for each resident who is enrolled in the new FirstEnergy program.
Reynoldsburg City Council approved the electrical aggregation contract with FirstEnergy at its Dec. 17 meeting. The contract will end in December 2014.
Under the old aggregation contract, which expired in December 2012, residents were guaranteed savings of 5 percent off the American Electric Power (AEP) generation and transmission price. The new contract guarantees 20 percent off that price, said Terry Leach, representative from American Municipal Power.
Leach said small businesses are expected to see savings of 25 percent under the new aggregation program.
He said the typical residential customer who uses 750 kilowatts of electricity a month could save $144 in a 12-month period.
"It is a no-risk program, with a zero fee to join and no termination fee," he said.
However, generation charges from FirstEnergy Solutions will not be budgeted for AEP's budget customers. Only the AEP portion of the bill will be budgeted - customers must pay the full amount each month for the generation charges from FirstEnergy, Leach said.
Councilman Scott Barrett asked McCloud to coordinate the public meeting.
"I think this is a wonderful benefit for our community, but I want it to be better represented to our citizens," he said.
Leach said the increased savings provided by the program will take effect for customers approximately 30-45 days following the opt-out deadline, which is 21 days from receipt of the letter.
He said residents who have individual contracts with another aggregation supplier would have to "opt-in" to the FirstEnergy program, so should check with their supplier to see if there is an early termination fee in their contract.
People who have questions and cannot attend the public meeting should call FirstEnergy Solutions at 1-866-636-3749.