· For more than a decade the Village of Hanna City has partnered with surrounding communities including but not limited to Peoria, East Peoria, and Peoria County to form an electric aggregation program agreement.
· The intent of the agreement is to join and leverage a larger volume of residents to help establish a rate for electricity that hopefully accomplishes three goals:
o Offers a lower rate over the life of the agreement.
o Offers a consistent rate, without fluctuation, over the life of the agreement.
o Enables residents to decide what option best suits their circumstances.
· The current program is being offered through Energy Harbor, the company from which you received your letter, and the program timeline extends from now until December 2025.
o The Aggregation Program base rate will not fluctuate over the life of the program.
o The Ameren base rate can fluctuate, either up or down, during the life of the program.
o Both rates have an additional capacity rate that can fluctuate and will be added to the base rate; however, they will be the same.
o Bottom line: The current estimated Ameren residential base rate is lower than the Energy Harbor Aggregation Program rate. The Ameren base rate can fluctuate while the Energy Harbor rate is locked in through December 2025.
· Your decision…
o Opting In
§ All Hanna City residents are automatically enrolled in the electric aggregation program. If you want to remain in the program, there is nothing further for you to do.
§ If you change your mind anytime during the life of the program, you can opt out with no penalty.
· You will have 60 days to choose a separate program otherwise you will revert to Ameren and be locked in for an addition 10 months, 12 months total. You will be unable to re-enter the Energy Harbor program.
· Your monthly bill will show both the Ameren and Energy Harbor rates to help inform your decision.
o Opting Out
§ If you feel the program is not for you, you can opt out at any time with no penalty by following the instructions outlined in the letter from Energy Harbor.
· You will not be able to re-enter the Energy Harbor program.
· You will be able to choose another program within 60 days.
· If you do not choose a new program, you will revert to Ameren and be locked into their rates for a total of 12 months. The 60 days plus an additional 10 months.
o Summary
§ The Village of Hanna City does not endorse any specific decision.
§ Markets can be volatile, and it is extremely difficult to predict what rates are going to do over the life of the program.
§ Our goal is to simply provide options for residents enabling them to choose what best meets their needs.
§ Once this program ends (December 2025) the VOHC Board will look for a new aggregation program to offer to residents.