Aggregation was a program wherein the Village acted as a negotiator with various suppliers to secure the lowest rate for electrical supply. The Village entered into a two year agreement with MC2 which is expiring February 2015.
What happens next?
The Village will not be continuing this program for one main reason: due to market changes the Village can no longer guarantee that the rate it selects would be lower than the ComEd rate.
How come there is no more savings?
This is a complex question, but basically due to various regulatory and market changes ComEd and the other power brokers are now all buying power at about the same price. Previously, ComEd’s price was much higher (about 30%) this is no longer the case.
What happens next?
If you do nothing, your bill will automatically switch back to ComEd. You will see an increase in supply costs as the MC2 rate of 4.819 per kilowatt hour expires and reverts to the ComEd rate which is about 7.43
What other options are there?
You are free to examine the market place for a better rate the following is good resource: www.pluginillinois.org.
What if I Live in LBS?
If you live in LBS and are with the Village’s MC2 supplier the aforementioned will apply. The Village is aware that the LBS management office is negotiating a new rate for LBS residents. Please contact the LBS office at 847-382-1660 for information.
April 7, 2015 CONSOLIDATED ELECTION
Three 4-year term Trustee positions will be on the ballot for the Village of Lake Barrington.
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