CINCINNATI — Duke Energy Ohio is replacing its gas cost recovery (GCR) charge with a new way of billing for natural gas starting April 1, the company announced Wednesday.
The new charge replacing the GCR is called the standard service offer (SSO). Duke Energy said the SSO is a monthly variable rate that "provides a transparent, market-based price" for natural gas.
Customers are currently charged a GCR reflecting Duke Energy's "monthly projected cost to purchase natural gas," the company said. The charge updates each month.
But starting April 1, the GCR will be replaced with the SSO charge.
Duke Energy said the SSO price is determined through an auction overseen by the Public Utilities Commission of Ohio (PUCO) that selects suppliers to provide natural gas.
PUCO accepted Duke Energy's auction for its SSO Feb. 17, the company said, which secured natural gas supplies for customers from April 1 through March 31, 2027.
The monthly SSO rate includes both market price (which may change each month) and retail price adjustment (a fixed monthly charge set at $4 per dekatherm).
The SSO will appear in the "Billing details — Gas" section of your bill.
The company said existing customers do not need to do anything and will continue to receive their supply. The monthly rate will change based on natural gas market conditions.
To compare the SSO price with offers from other suppliers, you can check PUCO's Energy Choice Ohio chart.
