City of Crystal Lake issued the following announcement on Aug. 10.
The City of Crystal Lake has accepted a bid from Dynegy Energy to provide electricity supply for the City’s electric aggregation program. This agreement applies to all residential and commercial customers that utilize less than 15,000 KWh per year. Beginning Friday, August 10th, the City and Dynegy, will be mailing letters to residents describing the program, rates and terms. The new program is effective October 1, 2018.
The agreement provides residents with a choice of electricity suppliers, as well as potential cost savings and price stability. ComEd can change rates throughout the year, so the fixed electrical supply rate under the City’s aggregation program will provide residents with price stability for the next two years, beginning October 2018.
As part of the program, the City secured a two-year agreement with Dynegy Energy at the price of 7.098 cents per kilowatt-hour. This price will remain fixed during the two-year term. This compares favorably to the current annualized ComEd rate of 7.941 cents per kilowatt-hour.
The City’s aggregation program is an opt-out program. ELIGIBLE CUSTOMERS WILL BECOME PART OF THE CITY’S PROGRAM AUTOMATICALLY – no action is required unless an eligible customer desires to opt-out. Residents who have individual contracts with another supplier would be required to opt-in to the City program if they are interested. Some supplier contracts have early termination fees, so check with your supplier before opting in to the City’s program. Individuals already served by Dynegy will receive information from Dynegy on their ability to switch to the aggregation program’s favorable electric rate.
You may receive solicitations from other retail electric suppliers to switch your electricity supply. THESE SOLICITATIONS ARE NOT RELATED TO THE CITY’S ELECTRIC AGGREGATION PROGRAM. Unless you chose to opt-out, are on real- time hourly pricing, or you are being served by another supplier, you are enrolled in the City’s program. If you receive a solicitation, you should not provide your ComEd account number. If you provide your ComEd account number, you may be unintentionally switched to another supplier and be removed from the City’s electric aggregation program.
Opt-Out Option
Anytime during the agreement term, customers can opt-out of the agreement with Dynegy without an early termination fee. Customers can opt out in two ways. First, beginning August 10th, Dynegy will mail an “opt-out letter” to each customer in the City. This letter will provide instructions for those wishing not to be included in the aggregation program. Second, at any time during the two-year agreement term, customers can contact Dynegy to cancel and move back to ComEd or they may contact a supplier of their choice and be switched from Dynegy to that supplier. If a customer chooses to opt-out of the aggregation program he or she may return, but regulations require that no customer may move back to the same supplier until a six-month “hold” period has passed.
Crystal Lake Electric Aggregation Program
October 2018 to October 2020
All City of Crystal Lake residents and small businesses have been automatically be enrolled unless they:
- Chose to opt out during the opt out period; or
- Have previously switched to another Alternative Supplier; or
- Participate in an hourly-rate program