Clarendon Hills Staff: Deal with Supplier to Cut Electricity Supply Rate by 40 Percent
The Clarendon Hills Village Board approved last month a two-year contract with Constellation NewEnergy that will reduce customers' supply rate from 8.82 cents per kilowatt-hour to 5.313 cents.
The following is a release from the village of Clarendon Hills:
Village residents will soon receive a 39.8 percent savings on their electric supply rates as a result of electric aggregation.
In November, residents approved a referendum allowing the village to pursue municipal electric aggregation, which allows the village to enter into a contract for electric supply on behalf of residents in an effort to bring savings.
After the referendum question on electrical aggregation passed on Nov. 6, the village requested proposal for electric supply services from qualified bidders. The proposals were reviewed by the Electric Aggregation Advisory Committee, who then made a recommendation to the Clarendon Hills Village Board, which approved an electric supply contract with Constellation NewEnergy to provide electric supply for 5.313 cents per kilowatt-hour for a two year term. This compares to ComEd’s current rate of 8.82 cents per kilowatt-hour.
The term will begin following the opt-out period for residents, which is expected to conclude in early 2013. Residents will also have the option to purchase 100 percent “green” energy for 5.388 cents per kilowatt-hour.
The village will be working with Constellation over the next several months during the opt-out period. Residents will receive letters in December describing the electric aggregation process and including instructions for customers who wish to remain with ComEd’s electrical supply to opt out. All customers will continue to receive their electric supply through ComEd’s infrastructure, and will continue to receive their electric bills for transmission and supply through ComEd.
Residents who are on real-time pricing or who are part of the electric heat program are not included in the aggregation program. Those residents who have entered into a supply contract individually with an electric supplier also will not be included in the village’s aggregation program. Residents who have a separate electric supply contract may choose to switch to the village’s supplier, however they should not do so until after the opt-out period has concluded because of ComEd’s “stay” requirement.
For additional information about electric aggregation, visit the village’s website at www.clarendonhills.us/electricaggregation.cfm. In addition, Constellation NewEnergy will provide a toll-free number for resident questions.