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The consortium includes seven Villages which together saved its residents more than $26 million since 2012 with its joint aggregation program.
The Northwest Aggregation Consortium has announced the suspension of its program, which means aggregation participants will return to ComED as their electricity supplier when the current program with Constellation Energy expires in May of 2017.
Each of the Villages that belong to the consortium, which include Arlington Heights, Buffalo Grove, Lincolnshire, Long Grove, Vernon Hills, Wheeling, and Palatine received competitive bids to continue the program, but did not obtain rates that were guaranteed to be lower than ComEd rates.
The Northwest Aggregation Consortium was formed in 2012 with a goal to pool resources and buying power to receive the lowest fixed rates possible for electricity. Over that time, members have achieved a combined savings of more than $26 million for their collective residents.
“The Consortium is proud to have worked together to achieve significant savings for the residents and small businesses of our communities. The Consortium is committed to monitoring electric rates in the future should rates become more favorable and savings can be guaranteed,” said Buffalo Village Manager Dane Bragg.
Aggregation participants will receive a confirmation letter in April that will notify them of the return to the ComEd energy supply. No action needs to be taken by participants, as they will automatically be moved back to ComEd. Meters will be read in May, and readings will be reflected in June bills.
It is anticipated that residents could receive solicitations from electric companies. While they are encouraged to explore their options, they are strongly advised to avoid programs with monthly fees, early termination fees, and variable rates that could have no upward cap.
Residents are also advised not to provide ComEd account numbers to solicitors unless terms and conditions have been reviewed and enrollment has begun. As the current program is suspended, solicitors should not indicate they are associated with a Village or Consortium program. If a solicitor indicates they are associated with a Village program, residents are advised to contact their Village.
For questions about the program, contact the Northern Illinois Municipal Electric Collaborative (NIMEC) at 800-727-3820. For additional information about electricity suppliers, visit www.PlugInIllinois.org.