The Village of Mount Prospect offers its residents and small commercial customers an opportunity to participate in an “opt-out” municipal aggregation plan to receive electric energy from an alternate retail electric supplier. In August 2014, the Village’s prior aggregated energy supply contract expired. The Village has continued its Aggregation Program with a new supplier, Homefield Energy* (now part of the Dynegy company). The Village’s aggregation rate of 7.935 cents per Kilowatt hour (kWh) will be available to residents through August of 2016, then the rate drops to 7.499 cents per kWh through August of 2017.
Effective June 2016 through September of 2016 ComEd’s electric supply charge (including transmission service charges) is 6.190 cents per kWh. In addition to the ComEd supply rate, ComEd has a Purchased Electricity Adjustment (PEA). The PEA can be a credit or charge to a ComEd account holder’s bill of up to 0.5 cents per kWh and the rate changes monthly. Depending upon the monthly PEA amount, the “all in” ComEd rate can range from 5.690 to 6.690 cents per kWh from June 2016 through September of 2016. The PEA is only applied if ComEd is the account’s energy supplier and the adjustment will appear under the Supply Charges’ section of the bill.
Residents may leave the Village’s Aggregation Program at any time to move to ComEd or any other alternate retail electric supplier. The Village’s Aggregation Program has no early termination or switching fees. Also, residents that opt to purchase electrical energy from ComEd may switch back to the Village’s Aggregation Program should ComEd’s rates rise. The Illinois Power Agency resets ComEd’s supply rate twice a year, June 1 and October 1.
Please note that State Regulations prohibit customers from switching accounts frequently. If an account was with an alternate retail electric supplier and then moved back to ComEd more than two billing cycles (about 60 days), the account is placed in a “bundled hold” status and the account may not switch to a new supplier for another four months (total of six months).
Any resident desiring to move back to ComEd should contact Homefield at 866/694-1262. Residents should have their account number ready prior to placing the call.
In the competitive electricity marketplace, ComEd still remains the electricity delivery provider regardless of energy supplier. Residents can find alternative priced rates from other suppliers by visiting pluginillinois.org.
To view Mount Prospect Rates vs. ComEd Rates, click here.
Key points to remember:
• The Village aggregation program has no termination fees.
• Residents are free to return to ComEd (or other suppliers) at any time. Should ComEd’s rates later be set above the Village’s aggregation rate, residents would be free to return by calling Homefield at 866/694-1262.
• If one requires additional assistance, call the Village’s consultant, Northern Illinois Municipal Electric Collaborative (NIMEC) at 800/727-3820. Simply leave question(s) and callback number, and NIMEC should return the call within 24 hours.
• To report an electrical outage or for questions pertaining to your ComEd bill, call ComEd at 800/334-7661.
* For residents who are part of the Aggregation Program, Homefield Energy may be noted as the energy supplier on the account's electric bill.