Lake Zurich residents should be aware of the pending expiration of the Village's three-year electrical aggregation agreement with Homefield Energy, which expires in July 2017.
This agreement was intended to secure electricity supply rates at a lower cost compared to ComEd.The electricity aggregation program succeeded in its mission to lower energy costs. Since the program originally started in 2012, it has saved the average participating resident nearly $400 and the Village almost $2 million cumulatively.
With the Village's current agreement with Homefield set to expire this summer, it is anticipated that residents will receive solicitations from electric companies on the phone and via door-to-door solicitations. While residents are encouraged to explore their options, the Village strongly advises to avoid programs with the following features:
> Monthly fees > Early termination fees > Variable rates that fluctuate over the life of the agreement
Residents are also advised not to provide ComEd account numbers to solicitors unless terms and conditions have been reviewed and enrollment has begun. Solicitors should not indicate they are associated with a Village or a consortium program. If a solicitor indicates they are associated with a Village program, please contact the Police Department at 847-719-1690.
The Village is currently seeking other options for electrical aggregation services in partnership with the Northern Illinois Municipal Electric Collaborative (NIMEC) and will likely go out to bid to have the market propose new rates for a new aggregation program. Residents and small businesses will be notified of any changes and expected rates.
If you wish to participate in the Village's aggregation program, you will not have to do anything. Those who wish to participate will be automatically enrolled into the Village-wide program this summer. Information on opting out of the Village-wide program will be made available prior to the new program starting. If you have any questions, please do not hesistate to call Village Hall at 847-540-1684.