Electric Aggregation Update
This July our community, along with 14 other Will County communities, entered into a 3 year contract with Constellation Energy to supply residential electricity. At the time that this contract was approved the ComEd price to compare was $0.07941/kWh. The rate negotiated with Constellation Energy is for $0.07517/kWh, to provide 100% carbon free power. Most importantly the terms of the contract allow residents to opt-out of the program at any time with no penalty.
On September 25th, the Illinois Commerce Commission, unexpectedly announced that as a result of a settlement with PJM (the larger electrical grid of which ComEd is one part), it would be rebating a portion of the ComEd price temporarily reducing their price to compare from $0.07941/kWh down to $0.07292/kWh. As a consequence, this moves the ComEd price lower than the rate negotiated by our community for the October 2018-May 2019 time frame. A similar rebate is included in our price but is being spread over the length of the 3 year contract. When adding in the Renewable Portfolio Standard Fee those rates come within $0.00178/kWh.
While no one can say with certainty what will happen with the ComEd price to compare moving forward it is important to note that in the 6 years the electrical aggregation program has been in existence it has saved over $31.5 million collectively, or about $400/household.
Our community wants to encourage residents to take the time to fully evaluate our aggregation program, the ComEd price to compare, and any other offers they may receive from other 3rd party suppliers carefully to make sure that you are making the right choice for your household. Should that evaluation lead you to want to leave the community aggregation program you can do so, without penalty at any time, by contacting Constellation Energy at 1-844-252-4216 or online at www.constellation.com/Il-willcounty. You will need your ComEd account number to opt-out.For more details on the Electric Aggregation Program, click here.