Lake Zurich making green energy option available to residents
Lake Zurich residents can address climate change at the local level through an option to choose 100% renewable green power as the source of their electricity.
The new program lets users support wind and other sources of green energy at a bulk purchase price far lower than they could secure individually, according to village materials. The 100% Green Electric Aggregation Program comes with a 13-month locked-in supply rate effective July 1.
The 7.95-cent per kilowatt hour green energy charge is 21% less expensive than the ComEd supply rate of 10.15 cents per kWh for the 12-month period ending May 31, according to the village.
A majority of residents and small businesses have been paying the ComEd rate the past year, said Kyle Kordell, assistant to the village manager. The green power is being offered by Chicago-based MC Squared Energy Services.
"This new aggregation program allows Lake Zurich as a community to advance important environmental sustainability goals by guaranteeing all electricity obtained through it will be green sustainable energy produced by Midwest-located wind, solar and hydroelectric facilities," according to a village newsletter.
However, the rate being offered is higher than ComEd's supply price this summer, which will be 6.809 cents per kWh. The annualized rate will drop to 7.1 cents per kWh, plus a monthly floating fee that can increase or decrease each month through May 31, 2024, according to the village.
Kordell said a big benefit of the village program is that it does not have that monthly "purchased electricity adjustment fee." A 5-cent per kWh cap has been removed, so no one knows how high that adjustment could go, he added.
A clean energy plan offered by an alternative supplier can be a legitimate choice, but customers need to make informed decisions, according to the Citizens Utility Board, a watchdog group.
Prices to compare are available at plugnillinois.gov.
An individual can find green energy from other providers, Kordell said, but those prices are higher than the 7.95 cent per kWh through the village program. Rates vary by community, he added, because electric supply companies competitively bid, based on the power usage of each.
Signing up for an alternative supplier's clean energy plan isn't the only way to go green, said Jim Chilsen, CUB's communications director.
There are many programs customers can sign up for that save money and are good for the planet, he said.
"Also, there has never been a better time to install solar panels at your home," Chilsen added. Incentives can reduce installation cost by up to 70%, he said. Visit solarinthecommunity.com for details.
Lake Zurich customers will continue to receive a single invoice from ComEd, and the new locked-in rate applies only to the supply portion of the bill, not the total.
Residents automatically are included in the program but can opt out by calling (833) 740-0476 or by emailing LakeZurich@mc2energyservices.com.
Agreements can be canceled at any time with no termination fee.
Lake Villa Township also has joined MC Squared in an electrical aggregation program, which is expected to reduce the cost of electricity for residents and small businesses. The program also will run through July 2024.
A 100% renewable green power option was available but not selected as it is more expensive, according to Township Supervisor Dan Venturi.
He said the negotiated rate of 7.35 cents per kWh for the new program is about 2 cents per kWh less than the ComEd rate. Township residents are automatically included unless they opt out, Venturi added.
Visit www.lakevillatown ship.org/ for details.