City of Fulton Selects First Energy Solutions for Municipal Aggregation Program
The City of Fulton has selected First Energy Solutions (FES) to supply electric generation service to residents and small businesses in the community through July 2014. As part of the agreement, residents and small businesses are expected to receive approximately $560,000 in electric generation savings over the term of the agreement. In addition, FES will make a one-time grant of approximately $13,000, which can be used as the local officials see fit.
City of Fulton Mayor Larry Russell said, “I complement our City Council, City Administrator, City Attorney and consultants for working together, allowing us to become the first community in Illinois to take advantage of these savings, which will be even more beneficial during the upcoming peak usage summer months. Through this unique program, FES is helping the members of this community realize lower electric bills, without experiencing any change to the quality and reliability of their electric service.”
“First Energy Solutions is pleased to have this opportunity to help the residents and small businesses in Fulton save money on their electric bills and to provide funding for the community,” said President of First Energy Solutions Donny Schneider. “Through similar aggregation programs in Ohio, First Energy Solutions has been able to give much-needed support to more than 300 communities and provide millions of dollars in savings to those community members. We look forward to serving Fulton and welcome the opportunity to work with more communities interested in learning how they can save money through municipal aggregation.”
Through this program, residential customers will receive a low fixed price of 6.23 cents per kilowatt-hour (kWh) on electric generation, which is an estimated 20% savings off ComEd’s current average generation rate. Small businesses will receive a fixed price of 6.04 cents per kWh on electric generation, an estimated 21% off ComEd’s current average generation rate.
Under Illinois law, communities are able to form municipal aggregation buying groups to arrange for electricity on behalf of their citizens. The municipal aggregator chooses a supplier for all of the members in its group. Customers may opt out of the aggregation program and shop for a supplier or accept the standard rate offered by their local utility.
ComEd will continue to provide the same level of electricity as well as read meters, send monthly billing statements and maintain service for residents participating in the municipal aggregation program.