MUNICIPAL ELECTRICAL AGGREGATION
First Energy Solutions Corp. Provides Low Bid for Mundelein Residential and Small Business Electricity Customers
On May 14, 2012, the Village executed a 2-year electricity supply contract with First Energy Solutions Corp. as part of the Municipal Aggregation approved by voters on March 20, 2012. First Energy Solutions is an
experienced energy supplier with generation capacity. If during the term of the contract, the ComEd electricity rate (which is 8.5 cents/KWH as of June 1, 2012) falls below 4.77 cents/KWH First Energy will match
the ComEd price or switch customers to ComEd at no charge.
All residents and small commercial accounts will automatically be switched to the lower rate unless they have already changed their ComEd electric account to an alternate electricity supplier or are in
the Residential Real-Time Pricing (RRTP) program.
If you have switched to an alternate supplier, you may still join Village of Mundelein's electric aggregation program, but you must contact the new
supplier to enroll. There is no fee to join, but your current supplier (other than ComEd) may charge an early termination fee.
The rate for Village of Mundelein's new electric aggregation program (4.77 cents per kWh)
is a savings of 44% percent off the June 1, 2012 ComEd rate of 8.5 cents per KWH. The average residential home uses about 9,000 KWH per year; with this usage the average customer will see a cost reduction of
$353.00 per year. The Village's contract is for a term of 24 months.
Residents who have already switched to receiving electricity from an alternate supplier
are advised to review their contract to determine whether they are subject to an early
termination fee before switching to the Village's program. You can switch immediately,
or you may choose to wait until your current contract expires, and join the Village
program at that time.
Residents will continue to receive only one bill from ComEd and it will include the electric supply charges from First Energy Solutions Corp. ComEd will continue to charge for delivering electricity. But the cost of the supply portion of your ComEd bill will drop significantly. This is a result of Illinois' deregulated energy market and new technologies that have lowered the cost of producing electricity.