Electricity bills rising this summer in seven Northwest suburbs
Residents and small businesses in Buffalo Grove, Palatine, Arlington Heights, Lincolnshire, Long Grove, Vernon Hills and Wheeling will pay more for electricity beginning in July, officials announced Tuesday.
The villages make up the Northwest Aggregation Consortium, which will see rates from electricity supplier Constellation Energy increase about 8 percent - from 6.529 cents per kilowatt hour to 7.06 cents per kilowatt hour - effective for the June meter read.
The rate hike will translate into a $3 monthly increase for an average household, officials said.
The increase is a result of regulatory changes meant to increase the reliability of the power grid. During the record-breaking cold of the winter of 2014-15, the power grid that serves the communities was at capacity, and came dangerously close to requiring brown outs, according to a statement from the village of Buffalo Grove.
The cost of the upgrades, which are called "Capacity Performance," are being passed onto all suppliers, residential and business customers, as well as ComEd, officials said.
The seven towns formed the Northwest Aggregation Consortium in 2012 in an effort to obtain the lowest possible rates for their residents and businesses. Their agreement with Constellation Energy is effective until May 2017. As of April, the seven consortium partners have jointly saved more than $27 million for residential and business customers, according to the village of Buffalo Grove.
Buffalo Grove Village Manager Dane Bragg said any resident can opt out of the aggregation program at any time without penalty. Customers can contact the consortium's aggregation consultants, Northern Illinois Municipal Electric Collaborative (NIMEC), at (800) 727-3820 if they have questions.
ComEd releases their new annual rates in May, and it is possible that their rate will be lower than the rate increases from Constellation Energy.
More information on alternate energy suppliers and pricing can be found at www.PlugInIllinois.org.