The Village of Downers Grove and the Village of Westmont have awarded a contract to First Energy to provide electric supply services through the villages' Municipal Electrical Aggregation Program. The new contract will save the average household approximately $350 on their annual electricity bill. The two-year fixed rate of 4.75 cents per kilowatt hour for eligible residents and businesses represents a 42% savings over ComEd's comparable non-summer rate.
NOTE: The price reduction refers to the electricity supply portion of the bill only, not the cost of delivery.
In addition to substantial electricity supply cost savings, the new rate includes Renewable Energy Credits (RECs) on a one-to-one match to supplement the electricity purchased. Purchasing RECs at the same quantity as electricity consumption guarantees that the energy used is added to the power grid from a renewable energy facility, thus supporting further development of green energy sources.
The new rate will take effect later this summer for all eligible customers, generally defined as the following:
- Most residential customers.
Exception: Residents under contract with a third party supplier other than ComEd and residents on ComEd's Real Time Pricing program.
- Businesses that use less than 15,000 kilowatt hours (kWh) per year.
All eligible customers will automatically be enrolled in the program unless they elect to opt out. First Energy will send a letter to customers soon, explaining the program and the opt out procedure.
The Villages used the energy consulting firm Belden Energy Solutions for program assistance and guidance.
As a reminder, consumers are urged to be cautious of offers from other electrical suppliers seeking to contract directly with the customer. Compare the rate of service and all terms and conditions before signing any contract or agreement.
Additional information about electric choice is available at the Illinois Commerce Commission website: www.PlugInIllinois.org