If you're participating in Buffalo Grove's electric aggregation program, chances are you've noticed savings on your monthly electric bill.
Village Manager Dane Bragg said Monday that the village's contract with Integrys Energy Services has saved customers more than $1.9 million over the last six months. That comes out to about $331,000 each month, he said.
Buffalo Grove entered the contract after voters approved a referendum last year giving the village permission to negotiate prices with alternative suppliers to ComEd.
The village gained additional negotiating power by teaming with six other nearby towns where referendums were also approved. They include Arlington Heights, Lincolnshire, Long Grove, Palatine, Vernon Hills and Wheeling.
As a result of the contract with Integrys, residents are paying 4.775 cents per kilowatt hour. At the time the contract was negotiated, ComEd’s residential supply rate was 8.233 cents per kilowatt hour.
The village's contract runs through June 30. Officials will decide later this year whether to seek new bids from electric suppliers.
Unless they opted out, residents and small businesses were automatically enrolled in the village's program.
Have you noticed a change in your electric bill since the village contracted with Integrys? Tell us about your savings in the comment section below.