With the approval of the Municipal Electric Aggregation Resolution at the March 14, 2022, City Council Meeting, the City of Bloomington was able to lock in rates for service for the next three years.
Residents have begun to receive or will receive letters soon from our energy supplier, Constellation, explaining the opt-in/opt-out process.
Our energy broker, The Stone River Group, was able to secure a competitive rate for three years for our Municipal Aggregation Communities. To keep the community informed the City is passing along a rate comparison update released on Monday, April 25, 2022:
The Stone River Group LLC secured a rate of $0.07895 for three years.
Summer Rate: Residential Rate from Ameren Illinois for June 2022 to September 2022: $0.0946*
Savings: 16.5%
4-month savings per account: $62.60 (average)**
Fall Rate: Residential Rate from Ameren Illinois for October 2022 to May 2023: $0.11502* Savings: 31.3%
8-month savings per account: $288.56 (average)**
Total savings over 12 months: $351.16 over the Ameren default rate
*These rates are based on ICC posted rates. In June 2022 there will be an update to transmission rates that could increase these rates.
**Average account usage is 1000/kWh per month or 12,000/kWh per year
A reminder, Participation in the Electric Aggregation program is not required and customers will have two opportunities to “opt-out” of the program. Constellation NewEnergy, Inc and Ameren will each contact eligible customers by mail to offer the opportunity to opt out of aggregation at no charge.
Residents who opt out of the program will remain on their current supply choice, whether that is Ameren Illinois Basic Generation Service (BSG), Power Smart Pricing, or RES supplier of their choosing. Opt-out letters will be mailed to all eligible residents in the coming weeks.
Residents with questions about this program can call 833-358-0518 or visit the Constellation customer service website.
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