Residents who participated in the Village of Montgomery Electric Aggregation Savings Program have enjoyed savings on their ComEd bills since the program’s inception in 2012. Residential and small commercial accounts received a fixed rate of 4.82 cents per kWh for a two-year term with FirstEnergy – a significant savings versus the ComEd rate which adjusts monthly, but as of February 2014 is 6.023 cents per kWh (a 20% reduction).
Village President Matt Brolley explained, “In the program’s first 17 months, participating Montgomery households saved on average $248 in electric supply costs, for a cumulative Village-wide savings of $1,188,000. Another benefit is that the program includes Renewable Energy Certificates representing 50% of the Village’s electric energy use.”
New residents are not automatically enrolled in the program, but are welcome to join at any time by calling FirstEnergy at 888-651-5200. You must provide your ComEd account number, service address and specifically request the Montgomery fixed rate of 4.82 cents. There is no fee to join the program; however, there is a $25 early termination fee for enrolled accounts that leave the program before expiration. Those enrolled with other suppliers should first check with their current supplier to determine if they are subject to any early termination fee before joining the Village’s program.
How can one confirm who their electric supplier is? View your ComEd bill and observe one-third down the page for the bold header: “Electricity Supply Services.” If you are in the Village’s aggregation program, your bill will state “FirstEnergy” and a rate of $0.04820. If not, you are either enrolled with another supplier or you are receiving the ComEd “default” rate that is stated as three separate charges: Electricity Supply Charge, Transmission Services Charge, and Purchased Electricity Adjustment.
The Montgomery Village Board selected a 24-month term with FirstEnergy at what was a very opportune time in the electric market. Prices have since climbed; however, the Montgomery program rate will remain fixed at 4.82 cents through August 2014. At the end of the two-year term, the Village may again seek competitive rates to renew the program.