Winter Storm Fern and PJM capacity costs may push Duke Energy Ohio bills up $37/month by June. Cincinnati customers should shop fixed rates now.
CINCINNATI, OH, UNITED STATES, March 18, 2026 /EINPresswire.com/ — Converging Market Pressures Could Add Nearly $37 Per Month to Household Bills
Electricity customers in Duke Energy’s Ohio service territory may be facing a costly spring. According to analysts at OHEnergyRatings.com, a convergence of prolonged winter cold, elevated natural gas prices, and a pending capacity charge increase has created conditions that make an April 1 rate hike increasingly likely, with a second increase potentially following in June. For Cincinnati consumers, these two increases could raise the average monthly PTC bill by $37.
Find the full article here: https://www.ohenergyratings.com/about-us/press/duke-energy-ohio-price-to-compare-rate-hikes
Winter Storm Fern Tightened an Already Stressed Market
Winter Storm Fern delivered a significant shock to natural gas markets this winter. With more energy demand from data centers and LNG export facilities, the U.S. Energy Information Administration reported that natural gas-powered electricity generation across the Lower 48 states rose 14% during the storm. At the Henry Hub, the national benchmark for natural gas pricing, spot prices surged to $9.03 per mmBTU on January 28. Regional hubs in New York and New England saw even sharper spikes, with prices exceeding $40 per mmBTU.
Compounding the situation, the February NYMEX futures contract for natural gas settled at $7.46 per mmBTU, nearly double January’s price. Below-normal temperatures also persisted across Ohio and much of the eastern United States through February, drawing stored natural gas supplies below their five-year average.
Unfortunately, higher natural gas costs charged to electric generators are often delayed from showing up on consumers’ electricity bills for a month or two. As a result, the high February natural gas prices may affect electricity rates in April.
Historical Data Points to Higher April Bills
Beyond the weather, analysts also identified clear patterns in four years of PTC pricing data across five Ohio investor-owned utilities:
· Over the past four years, when utility PTC rates changed in April, they rose by an average of a little more than 2%.
· First Energy utilities tend to raise rates the most.
· AEP Ohio and Duke Energy tend to raise rates the least.
· A minimum 2% increase this April would raise PTC rates by an average of 2 cents per kWh, bringing Duke Energy’s rate to approximately 12.088 cents per kWh.
For customers using an average of 850 kWh per month, the higher Cincinnati electricity rates mean roughly $17 more on the monthly PTC supply charge beginning in April.
A Second Increase Could Follow in June
The financial pressure may not stop there. When the first PJM capacity auction rates took effect on June 1, 2025, the Duke Energy Price to Compare rose by an average of 2.2 cents per kWh. That single adjustment pushed the average PTC rate across five Ohio electric utilities from 7.4 cents to 9.6 cents per kWh overnight.
While the 2026 capacity auction results were far more expensive, PJM recently agreed to extend the existing price collar for two more years. However, a repeat of a 2-cent increase this June would push the average PTC rate to roughly 14 cents per kWh. This means that just as air-conditioning season starts, PTC customers could then see an additional $20 per month in supply costs on top of the April increase.
As a result, Duke Energy PTC customers could wind up paying $37 more on the first day of summer than they did on the first day of spring.
What Duke Energy Customers Can Do Now
Between March 31 and July 4, Duke Energy PTC rates will change four times; two of which will probably bring higher prices. OHEnergyRatings.com reminds Duke Energy customers to do an apples to apples Ohio rate comparison when they shop fixed-rate plans from certified retail energy suppliers. In most cases, customers can find a better deal on electricity for their homes by shopping for steady, fixed rate plans from certified retail energy suppliers.
“Ohio energy consumers already know that data center development is going to keep raising supply rates,” said Karl Trollinger, CEO of Electricity Ratings. ” But we’re now seeing that as this happens, the Duke Energy Ohio Price to Compare rates could grow more volatile. With affordability at the top of consumers’ minds, steady and predictable pricing from fixed plans makes it easier to budget monthly energy bills. Customers who lock in a fixed-rate plan now can avoid these approaching rate increases.”
OHEnergyRatings.com is a website operated by Electricity Ratings, LLC.
Electricity Ratings, LLC operates a network of energy shopping websites serving 17 states and 56 utilities, providing our energy comparison and ratings service to over 80 million customers. We provide our customers with the power to choose the best providers through our consumer reviews platform which provides a reliable, unbiased source of valuable consumer insight. And we back that up by offering in-depth energy company service analysis, personalized recommendations, and practical advice. Our mission is to help consumers harness the power of information to find, compare, and buy electricity and energy services from the best providers.
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https://www.ohenergyratings.com
Vernon Trollinger
OHEnergyRatings.com
+1 866-897-0931
email us here
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