Bethalto Aims To Keep Electricity Costs Down By Renewing Program With New Provider
BETHALTO - The Village of Bethalto is continuing its participation in a municipal electricity aggregation program in an effort to save residents money on electricity costs, and has chosen a new electricity provider - Constellation NewEnergy.
Section 1-92 of the Illinois Power Agency Act allows local governments participating in a municipal electricity aggregation program to negotiate the price of electricity for residents and local businesses. Bethalto’s participation in the program has led to savings for households and business owners, according to a press release from the village.
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“Our primary goal is always to protect our residents from rising electrical supply rates,” the release states. “Since June 2019, Bethalto residents and small businesses have been receiving fixed rates of 4.29¢ per kilowatt hour (kWh) versus the Ameren IL market rate currently at 12.236¢ per kWh.
“This equates to an average household savings of over $50 per month, with larger households and businesses saving considerably more.”
Bethalto’s contract with Homefield Energy is set to expire this December and is non-renewable, prompting the village to bring on Constellation NewEnergy as its new electricity provider. The village has secured a fixed rate of 12.10¢ per kWh in a contract with Constellation NewEnergy for a 22-month term from February 2023 to December 2024.
Since the current contract expires in December before the new one begins next February, there will be a two-month gap during which Ameren will temporarily provide electricity to Bethalto before Constellation NewEnergy becomes the new provider.
Bethalto residents will get three letters in the mail over the next 90 days - two from Ameren and one from Constellation NewEnergy - notifying them of the changes in providers, but residents aren’t required to take any action throughout this transition.
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