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Electricity Supply Costs to Drop Over 50% Through Highwood’s New Electric Aggregation Program

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City officials have accepted a bid from MC2 to supply electricity to the City that will reduce electricity supply costs by 52%.  On March 20, 2012, Highwood residents approved a referendum authorizing the City to implement an Electric Aggregation Program.  In an effort to maximize potential savings, Highwood avoided outside broker fees and collaborated with the Villages of Lindenhurst and Lake Villa to jointly bid.

 

Under a contract between the City and MC2, all participating residential and small business customers will be able to purchase electricity through the program at a rate of 4.28 cents per kilowatt hour.  This rate will become effective for all participating customers around mid to late August and is guaranteed for a period of 12 months following that date.  When compared to the Commonwealth Edison rate of 8.50 cents per kilowatt hour, which took effect on June 1st, this rate is approximately 52% lower.  The average Highwood household can expect to save roughly $401 per year if participating in the program. 

In the next few weeks, eligible residential and small businesses customers will receive a notice from the City and MC2, which will state the offer and provide instructions for opting-out of the program.  Customers wishing to participate in the program will not need to take any action to be included.  Customers who desire to opt-out will be able to do so for a 21-day period following postmark of the notice.

Residents and small businesses may receive solicitations from other suppliers over the next few weeks to switch their account.  If a notice is not explicitly marked as being from the City or ComEd, customers should assume it is not connected to the electrical aggregation program.  For any questions, residents may either visit the City’s website www.cityofhighwood.org or call the City Hall at 847-432-1924.

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