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In 1999, Ohio deregulated the state’s electricity market giving Akron based businesses the power to choose their electricity provider. The deregulated market forced energy suppliers to be more efficient and to compete for customers – offering an opportunity for businesses of all sizes to compare energy plans from top energy suppliers and shop for the best available rates.
In most cases, Akron businesses that take advantage of the competitive market can more effectively manage their monthly electricity costs by switching energy providers, plans and rates, as needed.
The Public Utilities Commission of Ohio, known as PUCO, is the public utilities commission of the U.S. state of Ohio, charged with the regulation of utility service providers, including electricity, natural gas, and telecommunications. PUCO was created to assure Ohioans adequate, safe and reliable public utility services at a fair price.
In doing so, PUCO impacts every business in Akron – as it regulates all providers of utility services, including electric and natural gas companies, local and long distance telephone companies, water and wastewater companies, rail and trucking companies. Recently, the PUCO gained responsibility for facilitating competitive utility choices for Ohio consumers.
As an Akron business owner, it is important to understand that PUCO is also synonymous with the “Apples to Apples” energy comparison charts.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utility in Akron, Ohio Edison, is responsible for transporting electricity from the generators to residential homes and businesses in this specific region.
Energy providers in Ohio, like AEP Energy and Constellation are the competitive energy retailers. Each energy provider buys energy from the wholesale market (the generators) and then re-sells it to consumers (homeowners, renters, and businesses).
In most cases, the consumer, the homeowner, renter, or business, signs a contract with an energy provider for a specific energy plan. The basic energy plan details the rate class, the energy rate per kWh, the contract term length (6, 12, 24, 36 months), and other contract terms like cancellation fee policy.
Energy choice, also known as energy market deregulation, allows Akron business owners to select their energy supplier. Ohio has been a deregulated market since January 1, 2001.
Akron is located in the northeastern part of Ohio, along the Cuyahoga River. Established in 1825, the name “Akron” come from the Greek word meaning summit or high point for being positioned at the summit of the Ohio and Erie Canal. As of 2017, the city has had a population of 703,505.
Known for its rubber and tire manufacturing, Akron received the nickname “Rubber Capital of the World”. Akron is currently known for its biomedical research, high tech and financial businesses.
Ohio small businesses employed 2.1 million people and grew by 11,689 net jobs in the latest SUSB census in 2013. The 2.1 million employees represent 46.2% of the total employees in Ohio. In total there 927,691 small businesses in Ohio making up 97.9% of the total businesses in the state.
Akron is currently referred to as “The Polymer Valley”, with over 400 companies in the area that work with polymers. The city incentivizes new businesses by offering the opportunity to apply real property taxes to public infrastructure improvement that will directly benefit the business.
Headquarters for Goodyear Tire and Rubber company, Akron is a primary research hub in the aeronautics field. The top industries in Akron include construction, manufacturing, transportation, and finance.
See today's electricity rates for cities in Ohio.
