Electric Aggregation Program
Village of Norridge
FOR IMMEDIATE RELEASE
April 10, 2018
Village of Norridge Electric Aggregation Program
The Village of Norridge established a municipal electric aggregation savings program in 2012 following the passage of a voter referendum. The purpose was to help residents purchase electricity at rates below ComEd. It was extremely successful. The average participating household saved an estimated $300 on electric supply versus the ComEd default rate, resulting in a community-wide savings of $1.4 million by the end of the program’s two-year term in August 2014.
This Spring the Village undertook due diligence and sought competitive bids to renew the program which has been suspended since 2014. The lowest bids offered no savings versus the ComEd rate. Therefore, the Village declined all offers as the ComEd rate, which is expected to rise from 7.8¢ to 8.0¢ per kWh effective June 1, 2018, is yet below the lowest bid pricing received.
Residents should be aware of door-to-door solicitors, direct callers or direct mail pieces regarding electric supply and are advised to carefully review contract terms for floating rates or early termination fees. It is recommended that you never release your account number to a solicitor under any circumstance, unless you have decided to move to that supplier.
In summary, the Village took advantage of competition in the de-regulated electric market when it contracted the initial aggregation program and will again consider renewing the program, should favorable bids be received in the future.
Questions, comments or further inquiries can be directed to Douglass Strempek at the Village Hall at 708-453-0800.