Round Lake Beach residents to receive information on electricity savings

Round Lake Beach residents within the next week should receive information about a new electricity provider in town, First Energy Solutions.

Savings estimated at 47 percent over that offered by ComEd are expected to be reflected in bills sent in September for August electrical use, according to Brian Gosnell, the village’s finance director.

That an alternate power provider would be available has been known since March 20, when Round Lake Beach became one of more than 200 municipalities to pass electric aggregation programs.

Working with the Northern Illinois Municipal Electric Collaborative, Round Lake Beach chose First Energy Solutions from among five providers. The village was grouped by NIMEC with Norridge, Thornton and Westchester for bargaining purposes and were able to secure a one-year contract rate of 4.48 cents per kilowatt hour.

The bidding was May 24 and the agreement was signed by Mayor Rich Hill and the village clerk June 1.

“I was waiting for the contract to be signed and finalized by both parties,” before sending information to residents, Gosnell said.

Residents will automatically be switched under the new service (unless they have already switched to another supplier) but can opt out anytime during the yearlong contract without an early termination fee. The company guarantees it will match ComEd’s rate, should it become lower. Residents also can choose “renewable energy sources” for an extra fee.

Hill said the average household would save about $350 a year on their electric bill. The power supply charge represents about two-thirds of the average electric bill.

Residents still will receive a bill from ComEd, which will include its delivery charges as well as supply charges from First Energy.

Information is expected to be mailed to residents on July 13, Gosnell said.