DOWNERS GROVE – Downers Grove residents will see a large jump in their electrical bills this fall.
The village's electrical aggregation contract with FirstEnergy Solutions will end in August 2014, and the village has opted to return to ComEd as the electrical supplier. The two-year contract with FirstEnergy initiated in 2012 locked in low electricity supply rates for residents and small businesses. Through the aggregation program, participants saved 42 percent over the ComEd rates, according to the village.
The new rate with ComEd will be 7.42 cents per kilowatt hour, a 56 percent increase over the current FirstEnergy rate of 4.75 cents. The village declined to sign a new contract with FirstEnergy because its new rate would have been 8.04 cents.
"The village has reviewed options for renewing the contract with FirstEnergy and has also looked into other independent energy suppliers," a village press release stated. "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 18 months."
ComEd's rate is determined by the Illinois Power Agency, a state 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 18 months, according to the village.
The Illinois Commerce Commission provides information about company complaints and other information about power suppliers at pluginillinois.org. Utility complaints may be submitted by calling 800-524-0795 or online a thttp://www.icc.illinois.gov/contactus.