Village's Aggregation Program Expected to Save Residents, Small Businesses 40 Percent
The Village of Glen Ellyn's aggregation program is expected to take effect in February 2013.
Residents should be receiving a notice this week detailing the Village of Glen Ellyn’s plans to provide energy through supplier Verde Energy USA.
After residents voted to allow the village to pursue electric aggregation, the village put out a request for bids from energy suppliers, awarding a contract to Verde Energy.
Through its agreement with Verde, the village secured a rate of 4.981 cents per kilowatt hour, compared with the ComEd residential rate of 8.319 cents, providing residents and small businesses with about 40 percent savings, according to the village.
The rate is expected to go into effect in February 2013, the village said. The rate will be guaranteed for 18 months.
Residents do not need to do anything to receive the new rate, but those who may wish to opt out must do so by Dec. 17. The Village will outline the process to opt-out in its letter to residents, expected to arrive sometime this week.
“We are very pleased with the opportunity to partner with Verde Energy to assist residents in saving on their monthly electric bill,” said Glen Ellyn Village Manager Mark Franz in a news release. “This will result in a monthly savings of $30 for the average customer.”
Highlights of the agreement with Verde Energy USA include:
- 100 percent renewable energy (visit www.glenellyn.org for more information on renewable energy)
- ComEd rate match: If the ComEd rate were to drop below Verde’s energy rate anytime in the future, Verde will either match ComEd’s rate or move everyone back to ComEd.
- No early termination fee: Anytime during the 18-month term of the agreement, individual residents can opt-out of this agreement without an early termination fee.
*** The Village of Glen Ellyn sent out an e-mail Dec. 5, which changed the opt out date to Dec. 20. Residents who do not wish to participate must opt-out by that date.