Peoria, IL – This week, most residents of the City of Peoria, as well as residents of many of the surrounding communities, will be receiving a mailing regarding Peoria’s municipal electric aggregation program. In 2012, citizens in Peoria voted to allow the City to negotiate a price for the supply of residential electricity. This contract with Homefield Energy saved Peorians hundreds of dollars over the past two years.
The current contract with Homefield Energy ends in May. Last fall, the City of Peoria and governments in the surrounding communities negotiated a new contract with Homefield Energy that will start in June 2014 and extend through June 2016. The fixed, two-year price is $0.04746 per kWh. This rate will become effective on your June or July Ameren bill.
Eligible residents and small businesses will receive an “opt-out” notice starting later this week. A sample copy of this letter is attached. This is the exact same process as was used in May 2012 for the original program. If you want to participate in this group rate, you do not need to do anything—you will be automatically enrolled. There is no contract to sign and no enrollment fee. Residents have reported that electricity marketers have begun door-to-door and telephone campaigns. The City’s negotiated rate is lower than prices currently being offered by these solicitors. In Peoria’s aggregation program, residents are not required to sign a contract at all, and will not be called or visited by a salesperson.
Residents often confused by the actions of marketers, who typically present savings compared to the Ameren Illinois rates. Peoria’s electric contract price is already lower than Ameren’s standard rates. It was locked in at a lower point in the market last fall. Market prices have increased in the past several months, but Peoria’s program is protected from this market volatility and the price is guaranteed for 2 years. Further, the Peoria program rates do not have variable, hidden or “pass through” charges. If you are approached by an electric marketer, it is not part of Peoria’s aggregation program. Be certain to review all contract terms, ask about additional charges and do not feel pressured to take action right away.
If you are a new residential electric customer, or uncertain if you are enrolled in the community aggregation program, please contact the City’s supplier, Homefield Energy:
Homefield Energy: www.homefieldenergy.com