Municipal Electric Aggregation Program Update
At the April 9, 2013, consolidated election, the following public question was on the ballot:
Shall the City of Bloomington have the authority to arrange for the supply of electricity for its residential and small commercial retail customers who have not opted out of such a program?
By a vote of 53.73% to 46.27% the measure passed and the City Council became the governing authority of the City’s energy aggregation group (i.e., all City residences in the Ameren service territory and all businesses in the city service area using less than 15,000 kilowatt hours (kWh) of electricity per year. Members of the Corn Belt Energy cooperative are excluded.
Energy aggregation allows Bloomington to get a bulk price, through the bidding process, and can provide rate stability. The rates will stay the same for three years, ending in 2018.
The current supplier is Homefield Energy (https://www.dynegy.com/homefield/communities/homefield-illinois/bloomington). The rate through June 2018 is 5.669 cents per kilowatt hour. A small portion of this cost is used to purchase Renewable Energy Credits, which gives financial incentives to companies that produce renewable energy such as solar and wind power. Bloomington purchases one Renewable Energy Credit for every megawatt of energy used by the aggregation group.