Village of Frankfort Suggests Switching Back to ComEd for Electricity Supply

FRANKFORT, IL — Frankfort trustees are recommending that residents change their electrical supply back to ComEd, as its rates are expected to drop beneath that of alternative supplier Homefield Energy.

Since 2012, 17 Will County communities have participated in an electrical aggregation program to purchase electrical supply on behalf of residents and small businesses. The purpose of the program has been to save residents money on the “supply” portion of their electric bill. The program has reportedly saved to date a total of $30 million dollars county wide, nearly $400 per household, reports the Will County Governmental League.

In 2014 the aggregation consortium contracted with Homefield Energy to supply electricity to residential and small business customers within the member communities until 2017. The contract rate negotiated with Homefield Energy was $.06996 per kilowatt hour (KWh). At the time, this rate was well below the ComEd rate.

Recently, ComEd published their rate structure for the coming year. The first phase runs from June to October, at a rate of $.06195 per KWh. The second phase runs from November until May of 2017 at a rate of $.06315 per KWh. Both rates are lower than the $.06996 per KWh currently paid to Homefield. Therefore, communities within the consortium are encouraging residential and small business customers to return to ComEd, or another supplier of their choice, in order to realize a lower rate than the existing program provides.

“The Village of Frankfort's participation in the aggregation program has resulted in savings to our residents and small businesses in each of the last four years. Now, market forces have driven ComEd prices lower, so residents can save even more by switching their electricity supply back to ComEd. Therefore, I suggest that our residents and small business owners return to ComEd or another provider of their choice,” said Mayor Jim Holland.

The switching process is simple to complete. It requires that customers call Homefield Energy at (866) 694-1262, provide them with their ComEd account number, and instruct them to switch their electric supply service to ComEd (or any other vendor of their choice). Based upon the terms of the supply contract, customers have the right to change supply vendors without a termination fee. The contract precludes a wholesale transfer of customers as a group.

Further questions about the Electric Aggregation Program can be answered by calling the Will County Governmental League, who manage the program on behalf of the Village at (815) 729- 3535 or Mary Canino at the Village of Frankfort at (815) 469-2177.