Evanstonians taking part in the city’s electric aggregation program will see an increase of more than 8 percent in their electric bills starting this summer.
The City Council Monday night approved a new contract to replace the city’s existing one with Constellation NewEnergy, Inc. that expires in July.
The new contract, with Verde Energy USA Illinois LLC, will raise the price per kilowatt hour from the current 4.797 cents to 5.192 cents.
Verde’s price was the lowest of the three responsive bids the city received. The existing supplier, Constellation, wanted 5.609 cents for the new one-year term.
In the meantime, ComEd, which has been charging about 6.8 cents per kilowatt hour is dropping its price to about 5.9 cents.
The net result is that the savings to the average Evanston consumer of being part of the municipal aggregation program will shrink during the new contract term to as little as $19 from about $190 — assuming a typical usage of 9,000 kilowatt hours of electricity per year.
The new agreement continues the city’s decision to opt for a 100 percent renewable energy supply through the purchase of renewable energy credits. That raises the cost by about 1.56 percent over using non-renewable power sources.
Update 4/3/13: The drop in ComEd rates means some suburban residents — but not those in Evanston — will be paying more under their municipal aggregation plans than if they’d stayed with ComEd. Details from Chicago Business.