The city’s electric aggregation program has been extended through June 2019 with a fixed rate of 6.007 cents per kilowatt-hour. Homefield Energy will continue to be the program's electricity supplier.
In East Peoria’s aggregation program residents are not required to sign a contract at all, and will not be called or visited by a salesperson.
Residents can be confused by the actions of marketers, who typically present savings compared to the Ameren Illinois rates. The city’s program is protected from market volatility and the price is guaranteed for three years. Further, the city program’s rates do not have variable, hidden or “pass through” charges.
Electric marketers approaching residents are not part of East Peoria’s aggregation program. Residents should be certain to review all contract terms, ask about additional charges and not feel pressured to take action right away.
Those who are new residential electric customers or uncertain if they are enrolled in the community aggregation program should contact East Peoria’s supplier, Homefield Energy, at (866) 694-1262 or via e-mail at HomefieldCustCare@Dynegy.com.
Electrical Aggregation Details
In 2012, over 35 communities in Central Illinois passed municipal electricity aggregation referenda. These communities then worked together to leverage low prices for electricity supply for residential and small business accounts. Since 2012, this effort has saved residents in Central Illinois hundreds of dollars and kept millions of dollars in the community.
Ameren Illinois' default rates for residential and small commercial customers already reflect the volatility in market prices. Ameren's current residential supply cost is 6.77 cents/kilowatt hour. The rate for small businesses is approximately 7.3 cents. Future Ameren electric supply rates ar unknown.
The three-year aggregation contract term provides residents and eligible small businesses the protection of a multi-year fixed electricity supply cost as a hedge against volatility and uncertainty.