Village Says Palatine Electric Aggregation Program Saves Participants Money

Submitted by the village of Palatine

Following the passage of a voter referendum in March 2012, the Village of Palatine established an electric aggregation savings program with the hope of establishing electricity at a lower price for residents and small businesses via an opt-out program.

The village of Palatine says the program has been a success. So far, participating households have saved $299 for a cumulative Village-wide savings of $6.6 million.

The village renewed the program in May 2014 via a competitive bid process.

Constellation, an Exelon Company, offered the lowest pricing at a fixed rate of 6.621 cents per kWh for three years.

Additionally, 100 percent of electric supply consumed by program participants supports renewable energy sources such as wind, solar and hydro. To date, the renewable program has reduced CO2 output by 228,000 tons.

A new ComEd Price to Compare (PTC) was just released: The October rate is 7.487 cents, and for the period November 2014 through May 2015 is 7.43 cents.

This compares with last summer’s rate of 7.6 cents.

The fixed Palatine rate of 6.621 cents never has a PEA charge and therefore presents savings between 5 and 17 percent. There is no early termination fee to leave the program and there is no fee to enroll.

Any resident or eligible small business may call Constellation at 800-718-1493 to enroll at the Village’s contracted rate and terms.