Submitted By
Cara Pavlicek, Village Manager
Reviewed By
CLP
Agenda Item Title
Title
A Resolution Approving an Extension of the Electric Power Supply Contract with Constellation Energy Services, Inc. for the Oak Park Community Choice Aggregation Program at 6.799?/kWh (Standard Power) for six (6) Months Inclusive of the 0.3?/kWh Local Fee to Support the Smart City USA or Renewable Energy Projects within the Village and Authorizing its Execution
End
Overview
Overview
The Village is working with Mark Pruitt, Principal of the Illinois Energy Choice Aggregation Network relative to the Community Choice Electrical Aggregation program and on Monday, October 17, 2016, final pricing will be received from Constellation for both a six month and a twelve month time period.
Body
Staff Recommendation
A recommendation will be provided Monday afternoon, October 17, 2016 subject to review of pricing.
Fiscal Impact
To be determined.
Background
The Village is working with Mark Pruitt, Principal of the Illinois Energy Choice Aggregation Network relative to the Community Choice Electrical Aggregation program. The Village's current Electric Power Supply with Constellation, at a rate of 6.75 cents per kWh (standard power and inclusive of the local 0.3 cent fee to support renewable energy) will end December 31, 2016.
In conjunction with Mr. Pruitt, staff recommends the Village extend the Community Choice Aggregation program for a minimum of six months of 2017 to allow for alignment with the ComEd current pricing cycle. Staff also is recommending continuation of the collection of the local fee to support renewable energy. Total revenue from the fee through August 2016 is $242,577 and revenues are projected for entire year between $350,000-$375,000.
It should be noted that ComEd recently announced its October rate at 5.695 cents/kWh. If the Village Board approves an extension with Constellation, the average single family homeowner who elects to opt-out of the Communi...
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