Mount Prospect Electrical Aggregation Contract Approved

The Village Board approved a two year contract on June 5 with First Energy. Pending final acceptance, the contract will lower the current ComEd rate of 8 cents per kilowatt hour to 4.65 cents per kilowatt hour. All residents who currently purchase their power from ComEd will enjoy the reduction. Residents will receive a mailing from the Village in July. This material will include the instructions for the opt out option of the program if residents so chose to exercise that option. Residents will get an additional mailing from ComEd three weeks after the opt out mailing just confirming the resident wants to change suppliers.

Basically, residents do not have to do anything to take advantage of the new rate. However, if a resident already has an alternative electrical supplier other than ComEd they will NOT receive an opt out letter since the list of customers who will receive the mailing only includes current ComEd customers. Residents interested in changing from their current alternative supplier to the new Village rate will have that option, but will have to opt in. The opt in information will be available through the Village web site once the opt out letters are mailed out within the next 30-60 days. Residents should check back regularly with the Village web site since there will not be a special mailing to customers who previously opted out.

Furthermore, residents have the voluntary option to accept the green energy rate of 4.73 cents through the opt out process; however, this green rate is purely voluntary and will not be levied unless the resident wants to accept that rate.

Once the deadline closes for opting out the residents will see a reduction in their electrical rates, most likely around the September billing. The bills will still come from ComEd, but the energy portion of the bill will be different. Billing questions and outage notifications will still be directed to ComEd.