Rates to be locked in for MP energy aggregation

By on May 25, 2012

by David Maas
Maple Park—Bill McMahon of the Progressive Energy Group updated the Maple Park Committee of the Whole on Tuesday regarding the ongoing village energy aggregation process.

“The Com-Ed rates for this year have been set,” McMahon said. “The summer rate is 6.7 cents per kilowatt hour.”

The village is expecting to lock in a better rate when they meet with Progressive Energy to choose a supplier next week.

“We are projecting that Maple Park will be able to lock in a rate of about 4.5 to 4.8 cents per kilowatt hour,” McMahon said, “That’s a 2 cent savings right off the bat, and in the winter, the savings will be greater.”

Once the contract with the chosen supplier is signed, those rates will be locked in until the contract is up.

“Once the rates are set, the supplier will send out the opt-out notices, and following that, another opt-out notice will come form Com-Ed,” McMahon said.

If the current timetable for Maple Park’s energy aggregation stays on target, the village will start with its new energy supplier by late June or early July.

“Everything is looking good,” McMahon said. “I’m shocked to see the Com-Ed rates, but everything for the village’s aggregation is coming together great.”