(Solon) - If you are a customer of the Northeast Ohio Public Energy Council, or NOPEC, you will soon see reduced rates.
500,000 NOPEC customers will benefit from the lower rates thanks to a $9 million price reduction being implemented by NOPEC this spring.
The reduction will benefit all current NOPEC customers served by The Illuminating Company and Ohio Edison.
The rate reductions, on average, will mean a savings to residential customers of about 18-dollars and about 39-dollars for small businesses over a four month period.
Nearly 5.5 million of the 9 million dollars in rate reductions come from NOPEC's settlement with former electric supplier, First Energy Solutions, which terminated its' contract to supply electricity to NOPEC customers three years early.