Electricity Aggregation Program to be suspended
Since authorized by referendum in 2012, the Village has offered an Electricity Aggregation Program to its residential and small commercial electricity customers. The program has been a cost saving alternative to ComEd for electricity supply, saving customers who have been enrolled for the duration of the program an average of over $225 versus the ComEd supply rate.
The Village has renewed the program annually, and, this spring, again sought competitive bids to extend the program. However, the electricity supply market and bids were not favorable, and the current ComEd rate would be lower than the new program rate. The lowest bid price the Village received was 7.34¢ per kWh, while the current ComEd rate is 7.065¢ per kWh. Therefore, the Village is opting to suspend the program at this time to allow residents and businesses to benefit from the lower ComEd rate.
Those currently enrolled in the Village's program will continue to enjoy the low fixed rate of 6.177¢ per kWh (which includes 50 percent renewable energy) with Dynegy Energy through the August 2017 meter readings. At that time, all program participants will be switched to the ComEd electricity supply rate. This change will be reflected on ComEd bills received in September. Participants will also receive a "Confirmation of Drop" notice from ComEd in late July or early August indicating the impending switch to ComEd service.
Electricity customers still have a choice of energy suppliers. Those interested in choosing an alternative to ComEd are encouraged to visit the Illinois Commerce Commission website at www.pluginillinois.org to learn more about electricity supply, and to compare current rates.
The Village will continue to actively monitor the electricity supply market on behalf of residents and businesses. If savings can be achieved in future years, the Village may reactivate the program. If this occurs, residents and businesses will be notified. If you have any questions, call Deputy Village Manager Dan O'Malley at 847-781-2602, or visit www.hoffmanestates.org/electricity.