The Town of Normal recently selected Homefield Energy to serve as its new Electric Aggregation program supplier. This supplier, which will replace MidAmerican Energy, was chosen in a competitive process as it provided the best overall value.
The current agreement expires in June 2020. The contract with Homefield Energy locks in a rate of $0.0424 per kilowatt hour, and it will be effective in July 2020. The new contract also includes a “green” energy option at a rate of $0.0433 per kilowatt hour. These rates are lower than current rates, $0.0498 for residential service and $0.0507 for green energy per kilowatt hour and below the current Ameren supply rate of $0.04707.
The Town of Normal belongs to a consortium (CIMA - Central Illinois Municipal Aggregation) of municipalities, school districts, small businesses, and others aggregating more than 40,000 electric accounts to purchase power at a reduced rate. Electric aggregation offers residents a convenient option to manage energy costs by locking in a competitive rate for a 24-month term.
Participation in the Electric Aggregation program is not required. Residential rate customers will have two opportunities to “opt out” of the program. Homefield Energy and Ameren will each contact eligible customers by mail to offer the opportunity to opt-out of aggregation at no charge. Opt-out notices will be provided to all eligible participants before the start of each new contract. Residents who opt out of the program will remain on their current supply choice, whether that is Ameren Illinois Basic Generation Service (BSG), Power Smart Pricing, or RES supply. Opt-out letters will be mailed to all eligible residents in the coming weeks.
Normal residents approved electrical aggregation in the November 2012 General Election. As of this April, 602 Illinois communities, counties, and townships now take advantage of energy cost savings through aggregate electrical use.