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VILLAGE OF WESTMONT ELECTRIC AGGREGATION CONTRACT NOT RENEWED
Electric Supply Automatically Returned To ComEd In August 2014
PUBLISHED: Sept. 23, 2014
In June of 2014, the Village of Westmont reviewed its electric supply aggregation contract with First Energy, and due to a substantial rate hike, decided to not renew the electric supply aggregation contract with First Energy. The Village had an aggregation contract with First Energy from 2012 to August of 2014, which saved most residents over 40% on their energy supply bill.
Because the electric supply rates of most vendors were extremely competitive, many municipalities which previously had aggregation contracts opted to not renew their aggregation contracts in favor of returning electric supply to ComEd, or letting citizens choose their own electric supply company. In the end, the Village of Westmont determined that there is no longer a significant cost savings for our residents by pursuing an aggregate contract.
The contract with First Energy expired in August 2014, and if residents did not pursue an electric supply company on their own, then their energy supply automatically returned to ComEd once the First Energy contract expired. When research was obtained in June 2014, the ComEd rate was competitive with other supply vendors including First Energy.
NOTE: Residents will not need to take any action for their power supply to return to ComEd.
ComEd's rate for October 2014-May 2015 has been listed at 7.42 cents per kilowatt hour, plus an additional adjustment capped at .5 cents per kilowatt, which will vary each month. This rate is determined by the Illinois Power Agency, a State of Illinois agency that purchases power supply for ComEd.
CHOOSING YOUR ELECTRIC SUPPLY COMPANY
Citizens may research and choose their own electric supply vendor if they wish. When pursuing electric supply vendor options, consumers are urged to be cautious. Be sure to get all of the details before choosing a supply company as some supply vendors have variable rates which may spike after the start of the new contract, as well as charge penalties for exiting a contract early. Compare the rate of service and all terms and conditions before signing any contract or agreement. For a listing of electric supply vendors in Illinois, please click on the link below:
ELECTRIC SUPPLY VENDOR LISTING
For additional information regarding the Illinois Citizens Utility Board (CUB), please visit their website:
For more information regarding electric aggregation, please contact the Village at
Village of Westmont
31 W. Quincy St., Westmont, IL 60559
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