As a result, a typical residential customer who uses 1,000 kilowatt-hours of electricity a month and buys electric supply from Duke Energy Ohio paid about $118 per month starting with the June bill, down about $5.55 from May, the company said.
The drop was due in part to falling natural gas prices, said Duke spokesman Thomas Williams.
The reasons for relatively cheap natural gas are myriad, but can be summed up in one word: supply. Fracking — or drilling with water — has strengthened supplies of natural gas. Weather forecasts also played a role. Last fall, it was thought that the weather phenomenon El Nino would mean a comparatively warm winter.
Dayton Power & Light’s gas service was divested to Vectren in the year 2000.