Ohio’s energy market is interesting. The state is highly industrialized and is among the nation’s top energy producers and consumers. While renewable energy progress has been slow, Ohio is making great strides to introduce more alternative energy sources to customers.
Key Characteristics of the Ohio Energy Market
Ohio ranks 8th in electricity production and 7th in natural gas, and comes in at 10th overall for total energy production. Interestingly, Ohio is also among the most expensive states for natural gas. Electricity prices are better, but Ohio still falls within the top 20 states in terms of pricing.
With that in mind, Ohio is marked by its deregulated, competitive energy market, which allows businesses to choose from various suppliers to compare contracts, rates, and service offerings to secure terms that best suit their needs.
The Public Utilities Commission of Ohio (PUCO) oversees the competitive market to ensure fair practices among the numerous electric utilities operating in the state, including investor-owned, cooperative, and municipal entities.
While it may have taken time for Ohio to bring renewables into its energy fold, the state’s policies continue to evolve. As of August 2024, Ohio had a total renewable energy electricity net summer capacity of 3,743 MW, accounting for 1.1% of the U.S. total.
Energy Procurement Strategies for Ohio Businesses
As Ohio continues to diversify its energy mix, opportunities for businesses to adopt more renewable energy sources will grow. With a little help from EnerConnex, you can incorporate more renewable energy secure the best terms and rates from top suppliers, and more:
Incorporate Renewable Energy
Businesses eager to join the green movement and adopt cleaner energy can consider purchasing Renewable Energy Credits (RECs) or opt for green energy plans from suppliers that include solar, wind, or other renewables in their mix.
Leverage Deregulation and Competitive Markets
Ohio’s deregulated market allows businesses to choose from various competitive retail electric suppliers (CRES). With the help of an energy consultant, you can compare contracts, rates, and service offerings to secure the best terms possible for your business.
Explore Energy Efficiency Upgrades
As the 4th largest electricity consumer in the nation, Ohio-based businesses can contribute to a more efficient future by overhauling their HVAC systems with smart upgrades.
Did you know that your business could be eligible for various state or federal programs offering incentives for efficiency improvements? Initiatives like the Ohio Energy Efficiency Program and Air-Quality Improvement Tax Incentive can help you save money while reducing your carbon footprint.
Collaborate with Energy Consultants
OH’s in-state energy generation isn’t enough to meet demand, which means the state imports a fair share of electricity from others. Working with energy advisors who have expertise in Ohio’s energy market can help you design and optimize your procurement strategy to match your business’s specific usage patterns and goals.
Ohio Energy Solutions with EnerConnex
Is your Ohio business in need of an energy strategy overhaul? Learn more about EnerConnex Energy Procurement Services, and, when you’re ready to optimize your energy strategy, contact us!