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Good $ News: $429 avg. Household Savings from Clean Energy program & City Income Tax Revenue up 7% YTD

Written by David Robinson on . Posted in City Budget, Sustainability

City Services at work amidst the glory of nature.

Dear Reader,

Here are a few quick notes—related to both household and City finances—as we enter into autumn.  Both issues bring positive news:

Clean Energy Community Aggregation Program:

If you are one of ≈ 4,800 households in Worthington that is signed up for our clean electricity community aggregation program, then over the last year (7/23-6/24) you paid a third less (35.9%) for your electricity compared to AEP’s Standard Service.  We just received the Aggregation Program report for the year ending June, 2024 (the program contract runs from July-June).  Here’s a few key numbers stated in terms of households that are participating in the program:

$429.14 — Average HOUSEHOLD SAVINGS on electricity bills from July 2023 to June 2024.

$2,063,167.80 — CITYWIDE SAVINGS for all participating Worthington households from July 2023 to June 2024.

Savings are based on $0.069 kWh community aggregation price vs.  AEP’s $0.108 kWh price.  TOTAL USAGE VOLUME for the 12 month period was 53,139,211 kWh.

The program is clean energy in the sense that we purchase our electricity in the open market using Renewable Energy Credits (RECs).  Based on our annual volume of ≈ 53 million kWh, these RECs OFFSET an equivalent of over 8,000 passenger vehicles driven for one year, or over 41 million pounds of coal burned.  https://19january2021snapshot.epa.gov/sites/static/files/widgets/ghg-calc/calculator.html#results

These results are impressive and meaningful.  But we can do better, and I believe that one day we will.  How?  Direct generation of the electricity, through solar or wind, perhaps in consortium with nearby municipalities and/or school districts.  This will take leadership and sustained effort, but the stakes are high and, in my judgment, irresponsible to ignore.

I’ve written about these issues before: https://davidrobinsonblog.com/2022/11/a-bit-of-good-news-local-global/

https://davidrobinsonblog.com/2018/05/electrical-aggregation-in-worthington-how-to-not-burn-20-million-pounds-of-coal/

https://davidrobinsonblog.com/2018/11/a-resounding-yes-for-clean-energy-savings-issue-39/

https://davidrobinsonblog.com/2022/11/a-bit-of-good-news-local-global/

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City of Worthington, Year to Date (YTD) , Income Tax Revenue:

As you may know, income tax receipts comprise the bulk of City revenue, 70-75% typically.  So it’s good news for City finances that Total Income Tax Revenue, YTD July 2024, was up 7.1% compared to last year.  That’s $20,924,475 in 2024, compared to $19,531,222 in 2023, fueled primarily by higher Withholding and Net Profit taxes.

That’s all for now.  Comments are always welcome through the Contact David link above.   Also, please Subscribe if you want to directly receive my periodic posts.  Thx.

David Robinson

David Robinson lives in Worthington with his wife, Lorraine, and their three children—two who attend Phoenix Middle School, and one who is a graduate of the Linworth High School Program and Otterbein University. David is President and co-owner of Marcy Adhesives, Inc., a local manufacturing company. David has served on Worthington City Council since January, 2018, and is deeply committed to 1) advancing resident-centered policies, 2) supporting responsible development that enhances our unique historic character, 3) endorsing environmentally sustainable practices for both residents and city operations, 4) promoting the safety and well-being of all residents, and 5) preserving the walkable, tree-filled, distinctive, friendly nature of our neighborhoods.