Residents and small businesses can save an estimated $90 in the coming year as part of a successful electrical aggregation partnership with eleven other area municipalities brokered by consultant Progressive Energy Group.
The estimated savings is based on the assumption that Commonwealth Edison (ComEd) rate of 7.887 cents per kilowatt-hour (kWh) does not change. Aurora Township Supervisor Bill Catching said the township has selected Constellation NewEnergy, Inc. to supply its residents and small businesses with power for twelve months. Through this new agreement, participants will receive a fixed price of 6.954 cents per kWh on electricity from October 2018 to October 2019. By calling Constellation, residents and business owners can also choose a product matched 100% by renewable energy certificates at a price of 7.074 cents per kWh.
“We are pleased to offer township residents and small businesses the chance to save a significant amount on their monthly electricity bills and appreciate the work done by Progressive Energy Group in finding our residents more than $166,000 in energy savings vs. the ComEd rate.” Catching said.
Residents and small businesses in the unincorporated areas will receive two letters describing the changes. The first letter will come from Aurora Township and Constellation explaining the program. ComEd will send out a second letter about the program in late August 2018.
State law allows units of local government to seek bids to receive electricity supply from alternative energy suppliers (rather than from ComEd, the local utility) for their residents and small businesses. In November 2012, Aurora Township voters approved a referendum that allowed Aurora Township to be one of the first Illinois townships to pursue electrical aggregation. The first electrical aggregation program offered a $300 a year savings from ComEd prices and expired in August 2014. A second aggregation program also produced approximately $60 a year savings until August 2017.
The current energy market is much different with energy prices significantly higher than in previous years from both alternative suppliers and ComEd. Aurora Township joined forces with Big Rock, Burlington, Cortland, Hinckley, Kirkland, Malta, Maple Park, Sandwich, Shabbona, Somonauk and Waterman for the new aggregation partnership. By combining with other local governments, the township reached a size where alternative energy providers would offer a rate lower than ComEd’s.
About Progressive Energy Group
Progressive Energy Group is a premier provider of cost reduction and energy conservation programs that lower municipal and business customers’ costs. Progressive Energy Group has saved its customers over $100 million dollars in energy costs. Learn more at www.progressiveenergygroup.com on twitter at @SaveWithPEG, or on Facebook at Progressive Energy Group.
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation’s family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider, with 2017 revenues of approximately $33.5 billion, and more than 32,700 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.