Municipal Electricity Aggregation Results

On May 8, 2012, the City of Peoria joined 53 other cities, villages and county governments in Central and Southern Illinois to select a supplier of electricity for residential and small commercial accounts. This action was made possible by the successful passage of a referendum on the March 20, 2012 ballot that authorized the City to solicit a bulk purchase of electricity. The City selected Good Energy as its consultant and through them cooperated with other local and regional governments to form the largest buying group in Illinois.

Homefield Energy (www.homefieldenergy.com) was selected as the winning supplier. Homefield offered the lowest price with a two-year contract price of $0.0408 per kilowatt hour (kWh). This price is more than two cents lower than the current Ameren tariff rate of $0.0620 per kWh. The price is also based on the electricity being sourced from 100% renewable electric production.

The aggregated price will save individual households considerable money in the coming year. The average household is likely to save between $225 and $250 per year. Across Peoria, it is anticipated that between $8 million and $9 million will be saved each year.

The City of Peoria and Good Energy will be working with Homefield Energy to begin the process of account migration immediately. Individual households should be receiving their “opt-out letter” by mid- to late-May. Each account holder has fifteen days to return the letter if they do not wish to participate in the program. Those who do opt-out will remain on the Ameren tariff rate. Those who wish to participate in the aggregation do not need to do anything. It is the City’s intention that savings will be reflected in the June or July utility bills.

Questions can be directed to Christopher Setti, Specials Projects Manager, at (309) 494-8618 or csetti@ci.peoria.il.us.

More information: www.munienergychoice.com

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