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Municipal Electric Aggregation UPDATE

Municipal Electric Aggregation UPDATE

This week most Peoria residents, as well as many of the surrounding communities, will be receiving a mailing regarding Peoria's municipal electric aggregation program. In 2012, Peoria voted to allow the city to negotiate a price for electricity. This contract with Homefield Energy saved Peorians hundreds of dollars over the past two years, according to a release issued Monday by Peoria's city manager. The current contract ends in May. Last fall, the city and governments in surrounding communities negotiated a new contract with Homefield which will start this June and extends for two years. The fixed, two year price is $0.04746 per kWh. This rate will become effective on your June or July Ameren bill. Eligible residents and small businesses will receive an "opt-out" notice starting later this week. According to the city, if you want to participate in this group rate, you don't need to do anything, you will be automatically enrolled. There is no contract to sign and no enrollment fee. Residents have reported that electricity marketers have begun door to door and telephone campaigns. In Peoria's aggregation program, residents are not required to sign a contract at all and will not be called or visited by a salesperson. If you are approached by an electric marketer, it is not part of Peoria's aggregation program. Be certain to review all contract terms, ask about additional charges and don't feel pressured to take action right away, Peoria's city manager says. The city says if you have questions about the city's supplier, Homefield Energy, you can call them at 866-694-1262. Meantime, Tazewell County officials also released a statement Monday on door to door electricity marketers. Tazewell County says their community electric contract price is already lower than Ameren's rates. It was locked in at a lower point in the market last fall. Market prices have increased in the past several months but Tazewell County's program is protected from this market volatility according to Tazewell County officials and the price is guaranteed for two years.
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