VILLAGE OF MAHOMET’S NEW MUNICIPAL
ELECTRIC AGGREGATION RATE SET AT $0.0804
(MAHOMET, Ill, - - October 22, 2024) The Village of Mahomet is pleased to announce we have renewed our municipal electricity aggregation program below the utility rate with Constellation New Energy. The Village’s primary goal is to protect our residents from the continued volatility in electric supply rates.
Since July 2024, the Village’s residents and small businesses participating in the municipal electricity aggregation program have been receiving rates of $0.0997 from their current supplier, Energy Harbor. The new contract will be with Constellation New Energy, a locally based company. The new rate will be $0.0804, which equates to $0.0193 savings per kilowatt hour (kWh) using the current program rate. The savings for an average account using 800 kWh will amount to over $16.00 of monthly savings for those accounts currently participating in the aggregation program. Also, the delivery rate will change from the higher summer rate period to a lower non-summer rate period which will result in additional savings.
Unlike our previous contracts for the aggregation program, the Village of Mahomet, along with their consultant Good Energy, have deliberately secured the new rate for a shorter period of time due to the uncertainty in the energy market. The new shorter program will commence on the December 2024 meter read date and will continue through the May 2025 meter read date. This new 5-month program rate is a fully-fixed rate and will not change during that timeframe. A new follow-on rate will be negotiated with suppliers prior to the expiration in May 2025. Since the utility rate can change throughout the period, the Village’s aggregation program rate provides protection against higher rates as well as stability. For while those participating in the program since its inception have had only seven rate changes since 2012, the Utility has had 30 rate changes.
This program is designed to protect our residents from the volatility in the energy market and provide insurance against large increases in rates as we experienced in 2021 and 2022. Residents do have the ability to opt-out of the program at any time without penalty. An opt-out letter has been mailed to all eligible residents within the Village from Constellation. If the account holder desires to continue participating in the program, then no action is required, and you are automatically enrolled, The account holder does not need to return the opt-out notice. If the account holder chooses not to participate in the program, there are several ways to do this. Simply return the opt-out notice by mail, call Constellation New Energy at (833) 636-8357, or go to the website as referenced in the letter. Do not call the Village of Mahomet since we cannot opt-you out of the program.
Ameren will then send residents one more letter, part of the process required by the State of Illinois, stating the resident’s energy supply is moving to Constellation New Energy and that the resident has 10 days to rescind. If the account holder does not opt out, they WILL be enrolled in the Aggregation Program through Constellation New Energy as the supplier
Questions about the Municipal Aggregation Program may be addressed via email at gecsi@goodenergy.com or by visiting www.csimuniagg.com.
Since the inception of the program over a decade ago, every community has realized savings for their residents over the length of the program. The residents in the Village of Mahomet’s program have saved nearly $2,000,000 during the life of the program. While there is no guarantee, the success of the program speaks for itself.
We are fortunate to partner with Good Energy, the largest municipal aggregation consultant in the US, whose headquarters are in New York, and have regional offices in Peoria and Edwardsville, Illinois.