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Posted on: October 6, 2020

New Municipal Electric Aggregation Rate Saves Columbia Residents 20%

Electric Plug

On June 16, 2020, a group comprised of municipalities across central and southern Illinois held a bid opening for the purchase of the combined electric supply of its residents and eligible small businesses. Effective with the first meter read this December, the new rate for participants in Columbia's electric aggregation program will be 4.39 cents per kilowatt hour. The current aggregation rate is 5.596 cents/kWh. This represents a savings of 21.55% when compared to the expiring rate, or $8.97 per month for the average household. The City will be remaining with Homefield Energy for residential/small business electric supply. 

The default rate offered by Ameren Illinois (effective October 1, 2020) will be 4.546 cents/kWh. Ameren may increase rates any time if they demonstrate to the Illinois Commerce Commission that costs have changed. The City's rate is guaranteed through December 2022. 

Customers who have opted out of the aggregation program may return to the City's supplier by contacting Homefield Customer Care at 844-351-7691. You will need to provide the account holder name, address and account number. 

Customers who are being served by another retail electric supplier (other than Ameren Illinois or Homefield) and wish to participate may enroll in the program by contacting Homefield Customer Care. Make sure to check your term and early termination provisions of your contract. 

Authorized by referendum in 2012, electric aggregation allows Columbia to get a "bulk" price, through the bidding process, and is intended to provide rate stability. Residents can compare the Municipal Electric Aggregation price to Ameren's current default electric supply price at any time at www.pluginillinois.org

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