Three Winnebago County communities have signed a joint electricity aggregation agreement with FirstEnergy Solutions of Akron, Ohio, to supply power at a discounted rate for residents and businesses with an overall savings of nearly $20 million.
The Cities of Rockford and Loves Park and the Village of Pecatonica signed an intergovernmental agreement earlier in the year to bid jointly for contract as a result of the referendum approved in March.
The contract provides a fixed energy supply rate of 4.66 cents per kilowatt hour for two years and includes 50% green energy. FirstEnergy Solutions will also offer a 100% green option at a rate of 4.72 cents per kilowatt hour.
The estimated monthly savings for residential customers will be $24.22 in Rockford, $25.49 in Loves Park, and $26.29 in Pecatonica. Estimated monthly savings for small-business customers will be $21.89 in Rockford, $25.22 in Loves Park, and $18.31 in Pecatonica.
“We appreciate the work the City of Rockford has done on this,” Loves Park Mayor Darryl Lindberg said, “ resulting in a tremendous savings for Rockford, Loves Park and Pecatonica residents. It is an example of cooperation between communities.”
Based on 12-month consumption data in all three communities, the estimated overall impact to eligible residents and businesses is $19.7 million that can be spent elsewhere.
The process began March 20, when voters in the three municipalities approved aggregation of their residential and small-business Commonwealth Edison accounts.
Municipal leaders drafted a basic guide to explain how the program works, and each community was responsible for holding two public meetings to discuss this plan. An intergovernmental agreement allowed them to solicit proposals from licensed alternative electricity suppliers.
“I went into the decision-making process with no pre-determined outcomes in mind,” said Shawn Connors, President of the Village of Pecatonica. “This process provided the opportunity to promote renewable energy and give the Village of Pecatonica citizens a savings in their electrical bill. Working with the City of Rockford and the City of Loves Park help our community receive a great price.”
Additional information will be posted on the City of Rockford website. Citizens should receive a letter from FirstEnergy Solutions with program details and options.