As a follow up to our Spring Newsletter we want to remind residents of their options for Electric Suppliers. Since October, the Will County Electric Aggregation Group negotiated a fixed price electricity supply contract for our residents and small businesses. The goal of this program has been to provide electricity cost savings compared to purchasing your electrical supply from ComEd. While we are pleased to say that since 2012, we have been able to save the participating residents and businesses nearly $30 million county wide, when compared to the ComEd supply rates, we must unfortunately inform you that the current contract will not provide savings in its final year.
ComEd electricity supply price changes at various times during the year to reflect Summer and Non Summer Pricing. The Illinois Commerce Commission approved the rates ComEd filed for Summer and Non-Summer pricing. The summer price to compare will be 6.195 cents per kWh and the non-summer price to compare will be 6.315 cents per kWh.
This is the first time since the program began in 2012, that the ComEd Price To Compare will be below the aggregation programs price that we have negotiated. The current contract with Homefield Energy has a price of 6.99 cents per kWh that will drop to 6.85 cents per kWh in September of this year. The contract runs through September of 2017.
Based upon the terms of the electricity supply contract, you have the right to return to ComEd or any other supplier for your electricity supply without an early termination fee. In order to return to ComEd utility supply, please have your account number ready and call Homefield Energy at 1-866-694-1262 and let them know that you would like to return to ComEd supply service at the earliest possible date. It can take one to two billing cycles for the changes to take effect, depending on meter read schedules. If you wish to see other supply offers, the Illinois Commerce Commission has a list of offers at www.pluginillinois.org.
The sole aim of the electric aggregation program has been to save our residents and small businesses money on their electric supply, in the last four years we have saved the average household in the program over $400. Now that we know the ComEd Price to Compare will be dropping below our contracts price in this summer it is important for you to know the facts and that you are free to leave our program without any penalty.
If you have any further questions about the Electric Aggregation Program, please call the Will County Governmental League, who manage the program on behalf of the Village at 815-729-3535.