Electrical rates across the board have escalated. In short, the ComEd rate is the lowest available from now until June 2015. That is why the City cancelled the Integrys contract (in fact the Integrys representative told us to terminate with them because ComEd was lower!). We had to make a quick decision as the market rates were increasing. Even though this caused confusion, we could not allow residents to pay a higher rate.
Due to cost and to avoid any further confusion, it looks likely that we will stick with ComEd through June 2015. To beat ComEd’s current rate, municipalities must enter 3 year contracts. We likely could get a slightly lower rate for residents during the first year, but would be taking a chance that years 2 and 3 could be higher than ComEd since ComEd will be setting a new rate in June 2015. The electrical contracts no longer have a clause where the rate drops to ComEd rate if the ComEd price is lower.
I should note that during the 60 day period mentioned in the ComEd letter that you received, residents are free to pick a supplier of their choosing (effectively opt out of the city’s electrical aggregation management). It is best that you go to Plug in Illinois to self enroll in an offered plan of your choosing. Bottom line is buyer beware in electrical market. If residents do not opt to go with another supplier during this 60 day window then you will be allowing the City to determine the supplier and rate for the next year or more. Again, if you do nothing and the city does nothing then the resident will be with ComEd until June 2015 and will be receiving the lowest non-multi- year electrical rate available.