The Village's contract with MC Squared comes to an end in September. Since the start of the contract with MC Squared there have been several changes to the billing process that make having a contract with energy suppliers like MC Squared less attractive.
Recent cost adjustments related to transmission and capacity have increased the price, and a ComEd Purchased Energy Adjustment (PEA) of plus or minus one-half a cent every month make it very difficult to guarantee that the charge for electricity by MC Squared or any other supplier will be less than the ComEd charge.
After September 2015 you can expect your electric bill to increase from the current rate of 4.9 cents per kilowatt hour to about 7 cents. Since none of the alternative electricity suppliers will promise that a contract rate will always be below or equal to the ComEd rate, many villages are not renewing electric aggregation contracts and are returning to ComEd.
In order to minimize the increase in your electric bill you can lower your electricity demand by switching to LED light bulbs. Not only do these bulbs use substantially less electricity but they can last up to 8 or 10 years.
COSTCO is now offering reduced prices for LED bulbs. The sale price is subsidized by ComEd to encourage your conversion to lower energy using bulbs. Plan to take advantage of this offer while it lasts.
The Village will keep you posted regarding any potential savings through aggregation or other energy conservation initiatives. In the meantime, beware of electric suppliers who offer low rates for a few months then lock you into a long term contract with rates well above those charged by ComEd.
