Libertyville signs two-year electric aggregation contract
Updated: June 18, 2012 8:33AM
Residents and small business owners who voted for Libertyville to adopt an electric aggregation program will soon see their efforts pay off in reduced electric bills before the end of this summer.
It is estimated that users will save more than $200 per year off their current ComEd bill.
Village Administrator Kevin Bowens said trustees have enthusiastically accepted alternate power provider First Energy’s low bid this week of 4.75 cents per kilowatt hour rate. He said the Village was paired with the village of Riverside to expand its purchasing muscle. Riverside is similar to Libertyville in electricity usage.
This is substantially less than ComEd’s anticipated new rate of 8.5 cents per kilowatt hour to become effective July 1.
Bowens said the Village-approved rate is expected to go into effect in August for a two-year period. ComEd will continue to deliver the power through its grid system, and residents will notice that delivery charge on their monthly bill, along with a separate item for the alternate provider’s power. ComEd will continue to be responsible for resolving power outages.