Lack of Electrical Aggregation Contract
Resulting in Price Increases
Spiking prices and supply shortages have prevented the City of East Peoria from securing a contract for its community electrical aggregation program. Participants will be returned to Ameren Illinois supply effective with the June 2022 billing cycles. Customers do not need to take any action for their accounts to transition to utility supply. Ameren has been sending confirmation notices to account holders.
East Peoria has participated in a municipal electrical aggregation program since 2012. The program allows municipalities to combine electricity usage with other cities and town in the same utility region. The negotiated electricity rate through the end of May was .04385 cents per kilowatt hour.
Energy markets have experienced a significant price spike through the Winter and Spring, resulting in price increases for residential and small business customers. The annual average for Ameren’s current residential rates is approximately 0.12 cents per kilowatt hour, which represents a dramatic increase for all electric consumers in the Ameren service area.
While these market conditions are unprecedented, the current pricing levels or generation supply shortages are not expected to last long term. City officials continue to communicate with suppliers, including new entrants to the Southern Illinois market, about future energy supply for the electrical aggregation purchasing group. East Peoria officials expect to resume the electrical aggregation program in May 2023 and will provide information as that date approaches.
For more information on the electrical aggregation program and the Ameren rate increases, call Robert Cole, City of East Peoria director of buildings and inspections, at 309-427-7641 or via email at email@example.com.