SOLON -- Residents in Warren, Newton Falls and Liberty will soon receive Ohio-generated natural gas through the Northeast Ohio Public Energy Council.
"NOPEC is pleased to help Northeast Ohio residents and businesses cut their heating bills for years to come," said Joe Migliorini, Chairman of NOPEC's Board of Directors. "We've all heard and read about Ohio's extensive shale gas deposits, but this agreement allows Northeast Ohioans to capitalize on this great local resource. NOPEC expects to purchase a large amount of Ohio natural gas at a significant savings which will be contractually passed along to our customers."
A six-year pact between NOPEC and NextEra Energy Services, Ohio LLC ("NESO") will mean an estimated savings of 50 to 60 cents per thousand cubic feet (Mcf) due to lower costs compared to today's delivered gas prices. Additional savings may also be realized by using more Ohio gas, with total potential savings estimated to be as much as $1 per Mcf, based on expected Ohio gas production trends.
The agreement takes effect in March 2014
NESO will replace Virginia-based Dominion Energy Solutions as the endorsed supplier of gas to NOPEC's natural gas aggregation customers. That includes those who reside in Warren, Newton Falls and Liberty.
Other communities in the county and the Trumbull County commissioners opted against using NOPEC.