Keeping the lights on will get a little cheaper for some Kane County residents starting in August.
County officials signed a new, two-year deal with southern Illinois-based Dynegy Energy Services, LLC to be the new, non-ComEd electricity supplier for unincorporated residents.
The savings come as part of the electric aggregation program created three years ago. The initial contract was also with Dynegy. It resulted in about $301,000 in savings for residents and businesses who stayed in the program for the entire two years.
Last year, Baltimore-based Constellation NewEnergy, Inc., agreed to a one-year deal with the county. That deal resulted in cheaper electricity for residents compared to ComEd, but the margin was not as significant. Residents saved an average of about $40.44 on their annual bills.
The new deal, which reunites Kane County with Dynegy via a competitive bid, will see rates expected to shave $95 off the average electric bill in the first year alone. That saving comes thanks to a 7.026 cents per kilowatt hour rate. That’s less than the 7.08 cents residents in the program pay now. And it’s much less than the 7.75 cents ComEd started charging June 1.
There’s also a new option for residents willing to pay more for green energy. Dynegy will offer a 7.248 cents rate for residents who opt into that plan. Residents may opt in or out of the program at any time without paying an early termination fee or switch fee. County officials said residents on other programs should ask their electricity provider about any fees they may charge to leave their service before making the switch.
All changes are up to county residents and businesses. No Dynegy, Kane County or ComEd employee will ever call or visit a home to sell the plan or ask for more information.
Residents in the unincorporated parts of Aurora and Dundee Township are not eligible. Those residents empowered their township boards to negotiate their own energy supplier deals in 2012.