Ameren Illinois has released its new residential electric rate for customers in Belleville. Effective June 2019, the new Ameren summer rate (June 2019-September 2019) is 4.56 cents/kilowatt-hour (¢/kwh), and the non-summer rate (October 2019-May 2020) is 4.83¢/kwh. These new rates are lower than the City’s current municipal electrical aggregation contract with Homefield Energy, which is 5.496¢/kwh. The municipal aggregation rate is fixed through December 2020.
The City’s municipal aggregation rate is higher than Ameren’s current default rate for residential accounts by an average of $7 per month. However, at any time Ameren may raise their rates if it files with the ICC and demonstrates that its costs have increased. While the municipal aggregation rate is currently higher, it continues to deliver price stability and has provided savings over the life of the program.
The majority of the residents of Belleville have participated in the city sponsored program for several years, and over those years the stability and cost effectiveness have been more economical than the Ameren utility rate. However, the city wants to be very clear that the program is the choice of each resident.
City officials believe that since this program’s inception in 2013, it has saved our residents and small businesses a significant amount of money. While the City’s program rate is currently above the Ameren rate, we still feel that it is important to have a choice. In our community’s aggregation program, residents are not required to sign a contract and there is no cost to leave or re-join the program. Residents may switch back to Ameren at any time by contacting Homefield Energy at 866.694.1262, or emailing HomefieldCustCare@Dynegy.com.
Customers who choose to opt-out of the aggregation program are subject to a contract lock period and the utility will not allow you to re-join the program or choose another supplier for 12 months.
If you are a new residential electric customer, or uncertain if you are enrolled in our community’s aggregation program, please contact Homefield Energy at 866.694.1262.
For additional details, including cost trends, developments in the market that have impacted electricity prices, and answers to frequently asked questions, view the Information Summary provided by GoodEnergy.