CAMPTON HILLS – Residents and small businesses in Campton Hills soon should see lower electric bills, depending on the size of the building, as part of an agreement that could save users an estimated $500 or more annually, said Village President Patsy Smith.
The village recently reached a power supply agreement with MC Squared Energy Services made possible by a referendum approved in March. According to the village, the new electricity supply rate is projected to result in 37 percent to 50 percent savings off the ComEd residential electricity supply tariff rate.
“This is a great savings for our residents,” Smith said.
Campton Hills sent out about 25 requests for qualifications and sent six requests for proposals to the eight companies that responded, Smith said.
MC Squared was one of four who replied to the proposal request, she said.
By the time the village got to the final bidding process, officials felt like each of the companies were equally qualified, Smith said. She said officials based their decision on the best value.
Sharon Hillman, executive vice president of MC Squared, said in a press release that the company is pleased to offer Campton Hills the energy savings.
“The average annual savings for the average Campton Hills single-family home is estimated to be over $500 in the first year when compared to ComEd’s rates,” Hillman said.
The switch should happen in August, with the first bills likely coming out in September, Smith said.
Customers should receive information next week. She said they may opt out of the electricity aggregation program at any time without a fee.
ComEd will continue to deliver the electricity, respond to emergencies, read meters and handle billing and collections, according to the village.