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player ready...Glen Ellyn staff will wait until ComEd announces its new electricity rates in late May before a decision is made about rebidding its aggregation rates or opting out of the program.
A recent dip in natural gas prices might allow the village to renegotiate a much more advantageous rate than the current fixed rate of 7.5 cents per kilowatt hour through the aggregation program. ComEd offers 7.9 cents per kilowatt hour; however, David Hoover, the village’s electric aggregation consultant, said ComEd will offer a better rate in May, perhaps down to 7.3 cents per kilowatt hour. May’s rate posted by ComEd will be good for a year, Hoover said.
If the village sought to rebid its aggregation contract now, based on the lower natural gas prices, Hoover said the village might get a deal as low as 6.8 cents per kilowatt hour.
Although, if the village rebid’s that contract before it expires in 2016, it will lose the “opt out” clause with First Energy if ComEd’s rate dips below the one the village negotiates. Residents, however, will retain the ability to opt out of the aggregation program and seek a contract with ComEd or other energy supplier.
In June 2014 the Village Board voted to continue participation in the electric aggregation program by authorizing a 36-month contract with First Energy to supply power to residential homes and small businesses.
Trustee Tim O’Shea said he didn’t think there were any advantages to the village rebidding its aggregation contract before ComEd released its pricing rates.
Trustee Diane McGinley said she was also in favor of waiting until May, but hopes the village can retain the 100 percent green energy option.
Speaking from a remote location via telephone, Trustee Tim Elliott said it will take the new board some time to “get up to speed” on aggregation. Four candidates are vying for three Glen Ellyn Village Board seats in the April 7 election. The only incumbent seeking re-election is Pete Ladesic. The other candidates are Carol Fontana, John Kenwood and Mark Senak.
Village Manager Mark Franz said the village has saved residents $1.6 million through negotiated aggregation rates over the past five years.
However, as aggregated rates and the rates offered by ComEd have become closer, many neighboring communities, including Lombard, Downers Grove, Addison and La Grange Park opted out of the aggregation program.
Hoover said there are some advantages for a village like Glen Ellyn to continue with aggregation because the locked-in rates would be beneficial to residents who maintained many of the larger homes in the community.
The village’s contract with First Energy is based on energy that is 100 percent green, said Adam Kruezer, chairman of the village’s Environmental Commission. Kruezer told commissioners a rate of 6.8 cents per kilowatt hour would be the lowest the village could likely get for several years.
He said touting best green practices can attract federal grant monies as well as environmentally conscious businesses to Glen Ellyn.