Kenilworth finalized its electricity purchasing agreement with energy provider mc2 this week, according to a press release.
Residents and small businesses taking part in the electricity aggregation program will pay 4.11 cents per kilowatt-hour for 100 percent renewable energy. The rate is 45 percent lower than the Commonwealth Edison’s summer rate Kenilworth residents pay as of June 20, according to the village.
The village estimates the average Kenilworth residential customer will save some $600 from September through May 2013. With about 875 residential and small business customers eligible to receive electricity under this agreement, Kenilworth expects to save more than $500,000 in energy costs during that time period.
"The Village of Kenilworth is proud to be able to offer Kenilworth residents and small businesses such a substantial savings over their current electricity rates," said Village President Fred Steingraber in the release. "Additionally, the village is pleased to offer residents a mix of energy in this lower rate to include 'renewable energy credits' equal to 100% of their total consumption … The village is extremely pleased with the result of this collaborative effort between Kenilworth and Wilmette."
Kenilworth joined forces with the Village of Wilmette to form the Lake Shore Power Alliance to jointly bid each community’s respective energy needs.
Residents have 21 days to opt-out of the program and will not be charged termination, enrollment or switching fees. Commonwealth Edison is still responsible for handling monthly bills for Kenilworth and Wilmette residents. Residents would still call ComEd if services were interrupted.
The village expects to mail the opt-out notices as early as the week of July 2. The new lower energy costs is expected to be available to residents and small business customers in August and will not be later than September, according to the release.
Eighty percent of Kenilworth voters authorized the village to aggregate electricity for the community on March 20. Kenilworth approved a plan of governance on May 21 and selected mc2 as the energy provider on June 18. Wilmette approved a contract with mc2 on June 12.
Wilmette trustees selected to purchase the lowest price electricity at 4.035 cents per kilowatt-hour, which includes the statuary minimum requirement of 7 percent renewable energy. Wilmette residents also have the option of purchasing more renewable energy through the Individual Choice Green Power Program. For a Wilmette resident who selects to purchase 100 percent renewable energy, the cost is an additional 0.075 cents per kilowatt-hour, or about $10 more than the primary program.