Naperville electric rates to remain unchanged until 2013
City Council's Foresight to Join the IMEA in 2007 Greatly Contributes to Rate Stability
The City of Naperville is pleased to announce that its electric utility customers will see no electric rate increases through the first part of 2013. In the three fiscal years following, customers can expect to only see a 2 percent electric rate increase each year. In a time when energy prices remain volatile, this longer-term projection is a testament to the foresight of the City Council and prudent fiscal management of the City's award-winning electric utility.
On June 1, 2011, the City of Naperville began purchasing electric power for its municipal electric utility with the Illinois Municipal Electric Agency (IMEA), a nonprofit joint action agency comprised of 32 municipal electric systems that work together to provide power supply and other related utility services for themselves. Because of this new agreement and the new way the City must purchase power from the IMEA, Naperville recently conducted an electric rate study to determine rates for the coming years.
“We are extremely proud that our electric customers will continue to enjoy some of the lowest electric rates in the region,” Department of Public Utilities-Electric Director Mark Curran said. “The City Council's decision in 2007 to join the IMEA, even before the world economic downturn and during continued instability in the energy market, has allowed the City to provide its electric customers minimal rate changes over the next five years. This visionary leadership should be applauded by all residents and businesses as we continue to enjoy reliable and efficient electric service.”
Naperville's contract with the IMEA runs through September 30, 2035. Long-term membership in the IMEA allows the City the advantages of economies of scale provided by a larger buying group and to stabilize electric rates for a longer time frame.
In addition to purchasing power, this partnership will allow electric customers to benefit from additional IMEA incentives and programs, including the Recycle My Fridge Program. Starting August 1, Naperville single-family residential utility customers can call (877) 341-2313 or visit www.RecycleMyFridge.org to schedule a free pickup from inside their homes of old secondary refrigerators and freezers. As a thank you, a resident will receive a $35 prepaid card four to six weeks after he or she recycles the appliance.
Refrigerators and freezers turned in for recycling must be in working condition, 10 to 30 cubic feet and owned by the resident. Appointments will be made on a first-come, first-served basis, with the program lasting until the IMEA budgeted funds of $100,000 are distributed through all member communities. By retiring old refrigerators and freezers, customers should see a decrease in their monthly utility bills and demand on the City's power grid can be reduced.
For more information on Naperville's electric utility, visit www.naperville.il.us/electric.aspx. For more information on the IMEA, visit www.imea.org. For more information on the City of Naperville, visit www.naperville.il.us. Sign up to receive the latest news on the City of Naperville's projects and initiatives via e-mail at www.naperville.il.us/enews.aspx.