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Libertyville residents will save 44 percent on electricity under deal with new supplier, officials say

Libertyville residents will save 44 percent on electricity with the village’s switch from Commonwealth Edison to a new energy provider, First Energy Solutions of Akron, Ohio, according to officials.

The new rate of 4.75 cents per kilowatt hour was recently approved by village officials and will be effective by late summer, according to village documents. Its guaranteed for two years.

First Energy’s price for electricity supply is a drop from ComEd’s rate of 8.5-cent rate.

“I think it will be a benefit to residents because they will see a savings on their bills when ComEd’s rates were going up,” said Mayor Terry Weppler.

It is estimated residents buying electricity through First Energy will save an average of $300 through June 2014 compared to if residents stayed with ComEd, according to First Energy Solutions Diane Francis.

Residents will automatically be brought into the new program, but they can opt out free of charge, according to village documents.

The contract with First Energy also meets the village’s stipulation to provide options for residents who want to purchase renewable energy.

The contract with First Energy follows voters’ approval of a March referendum, which authorized electrical aggregation.

The village joined with the Northern Illinois Municipal Electric Collaborative to seek bids from energy suppliers.



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