Recently, Lee County entered into a 2-year electric aggregation contract with MC Squared Energy Services, LLC, with a fixed electric supply rate of $0.0745/kWh. The terms for the new contract provide this rate for the entire 2-year term, ending with the July 2025 meter read. This program replaces the prior 3-year contract, which was with AEP Energy and had a fixed electric supply rate of $0.05634/kWh.
Participation in the aggregation program is an individual decision and each Property Owner should take some time to evaluate their options. The following summary has been prepared from data collected on the www.pluginillinois.org website and shows comparable Com Ed rates with the aggregation program rates over the last year. Please make sure to note past performance is not an indication of future performance.
Some additional information for Owners to consider:
- Com Ed’s reported base rate for June 2023 to September 2023 is $0.06809/kWh.
- Com Ed’s billing system for supply rates includes a line item called Purchase Electricity Adjustment or PEA. This item can be listed as a credit or as a charge and has a cap of $0.005/kWh in either direction.
- With consideration of the PEA credit/charge, the summer Com Ed rate has a range of $0.06309/kWh to $0.07309/kWh. June 2023 was 7.309 cents/kWh.
- Owners can opt out of the Lee County aggregation program at any time without penalty. When this occurs, the Owner can choose another supplier or Com Ed as their supplier. If Com Ed is the chosen supplier, the Owner will be committed to a 6-month contract. At the end of the 6 months the owner will have the option of opting into another agreement, including the aggregation agreement.
As demonstrated in the summary, Com Ed supply rates were much higher than the aggregation rates offered this past year. As we enter the summer season 2023, the Com Ed base rate (through September 2023) is more competitive and is currently lower than the aggregation program rate for August 2023. Within each year, Com Ed establishes a base rate for peak season (June through September) and adjusted rates for non-peak seasons (October through May). Com Ed rates for October 2023 and the following months may be higher or lower than the current summer rate. Rate change information is releases prior to each change and posted at www.pluginillinois.org.