PAXTON — Residents and small businesses should see an average monthly savings of $20 or more on their electricity bills starting in March, after the city locked in a lower rate last week for its electric aggregation program that was approved by voters in November.
The city entered into a 16-month agreement with Chicago-based Integrys Energy Services, an alternative retail electricity supplier, Mayor Bill Ingold said.
Under the agreement, in effect through June 2014, Integrys will supply electricity to all Paxton residents and eligible small businesses currently being served by Ameren Illinois who choose not to opt out of the program.
Integrys will supply electricity at a rate of 4.024 cents per kilowatt-hour, according to Adler Pharel, the company's program manager for Illinois aggregation. That rate is down from Ameren's current non-summer rate of 5.467 cents for residential customers — a 26.39 percent savings — and 6.188 cents for small businesses — a 34.97 percent savings, Pharel said.
The savings on each bill will depend on each customer's electricity usage, Pharel said, but he said it should average roughly $20 to $23 per month.