Officials say program could cut electric bills
By Sarah Zavala Correspondent May 27, 2012 8:38PM
Updated: July 3, 2012 9:58AM
Oak Forest residents could save hundreds of dollars on their electric bills by switching their provider, officials say.
Residents in March voted to let the city negotiate electricity rates for homeowners and small businesses through a process called electrical aggregation. The city just accepted a bid from FirstEnergy Solutions, an Ohio-based company that has 100 percent renewable green energy sources.
The average resident will save $370 per year, officials said.
“Some will save less, some will save more,” city administrator Troy Ishler said.
The city signed a two-year contract that says if ComEd’s rates drop below the contracted rate during the two-year period, FirstEnergy will have to match those rates.
“The savings are real,” Ishler said. “I really think this is a win-win for our residents.”
The new supplier’s rate will be 4.82 cents per kWh usage. ComEd’s rate is 8.5 cents. Savings should start at the beginning of August.
Residents have to choose to opt out of the program, and can do so via mail or by phone.
Two opt-out letters will be sent to residents from the city and from ComEd.
Residents and small business owners could save close to $4 million a year, Mayor Henry Kuspa said.
For more information on electrical aggregation and FirstEnergy Solutions, visit www.oak-forest.org/