Village of Arthur will resume electric aggregation program in July with new supplier
The Village of Arthur will resume its electric aggregation program in July with a new supplier, Homefield Energy of Collinsville, and a new rate of 8.663 cents per kilowatt hour. The new rate is approximately 25 percent less than Ameren’s residential electric rate of 11.833 cents. The Village’s rate will be fixed for 12 months—to July 2024. Ameren is expected to adjust its rate in June.
Following Illinois’ deregulation of electric supply costs to homeowners and small businesses, Arthur voters authorized the Village Board to create an electric aggregation program. The Village Board in May 2022 suspended the program for one year when soaring electric prices in the competitive market made Ameren’s regulated rate the better price for electricity.
That changed when the Village found market prices more competitive earlier this year. Homefield in February submitted the lowest of three bids to supply Arthur’s electric aggregation program. In addition to the Village’s lower electric rate, participants in Arthur’s program do not pay purchased electric adjustment (PEA) costs that Ameren customers pay. Average PEA costs over the past nine months have added about 3.4 tenths of a cent to the kilowatt hour cost.
Homefield on Friday, May 26, will send a letter to each eligible Arthur homeowner and small business of the program, the new rate, terms and conditions, and the right to opt out at no cost. Those who wish to participate will be enrolled automatically and need to do nothing. Those who prefer not to participate can opt out by calling Homefield’s customer care center at 866-694-1262, a toll-free number. Homefield’s telephone system allows callers to request a callback to avoid lengthy hold times.
Ameren will also send a letter to each eligible participant to remind them of the new supplier and their right to opt out.
Homefield’s supply costs will be included on Ameren’s bill, which means residents who participate in the Village’s program will still write only one check to Ameren for all electricity charges. Calls for conditions like flickering lights and power outages will continue to be handled by Ameren. Further information is available from Homefield by calling its toll-free number, 866-694-1262.
