CHAMPAIGN — The city's new electric supplier reports that Champaign's municipal electric aggregation program saved residents $690,719 on their power bills between August and November.
The municipal electric aggregation program allowed city officials to select a new electricity supplier for residents at a lower rate. The vast majority of residents had been paying a default electricity rate of 6.16 cents per kilowatt hour.
Voters approved the program during a March referendum. In May, the Champaign City Council approved a new electric supplier, Integrys Energy, at a new rate, 4.15 cents per kilowatt hour.
Officials began switching customers over to the new supplier in August 2012, and residents may have started to see savings on their September bills. Ameren Illinois continues to deliver electricity to residents and bills them for both delivery and supply.
According to a press release, the city program has 27,276 participants. Most residents and small businesses were automatically enrolled unless they opted out.
The city of Urbana has a municipal electric aggregation program, too. Urbana residents have been paying a new electric rate of 4.05 cents per kilowatt hour to the city's new supplier, Homefield Energy.
In November, Urbana officials reported that the program had saved as many as 12,000 residents a total of $502,451 between July and September.