The Village's electrical aggregation contract with FirstEnergy Solutions will end in August 2014. The two-year contract initiated in 2012 locked in low electricity supply rates for residents and small businesses. Through the aggregation program, participants saved 42% over the ComEd rates.
The Village has reviewed options for renewing the contract with FirstEnergy and has also looked into other independent energy suppliers. In today's market, the rates available from other energy suppliers are nearly identical to ComEd's rates. There will be no benefit to residents or businesses by continuing the aggregation program. Should the energy supply market change, the Village can reevaluate after 12 months.
- All participants enrolled in the aggregation program will return to ComEd's supply rates at the conclusion of the contract ending in August. ComEd's rate for October 2014-May 2015 will be 7.42 cents per kilowatt hour, plus an additional adjustment capped at .5 cents per kilowatt that will vary each month. This rate is determined by the Illinois Power Agency, a State of Illinois agency that purchases power supply for ComEd.
- Customers will have two billing cycles to decide whether to sign up on their own with an independent third party authorized energy supplier or be locked into ComEd's rates for 12 months.
- Customers choosing not to switch will be automatically returned to ComEd and no further action is required.
If You Switch
The Illinois Commerce Commission provides information about company complaints and other information about power suppliers at pluginillinois.org. Residents are encouraged to contact the ICC directly if they have complaints about misleading marketing tactics. Utility complaints may be submitted by calling 800-524-0795 or online a thttp://www.icc.illinois.gov/contactus.