<Southern Illinois> Over the past several weeks, the Southern Illinois Aggregation Partnership (SIAP), a joint venture between Affordable Gas & Electric (AGE) and Select Energy Partners – has been working behind the scenes to take advantage of several developments in the short-term power markets to secure a $35 bill credit from Collinsville-based supplier, Homefield Energy (Dynegy) for many residential aggregation customers in SIAP communities.
From its inception in 2012, the aggregation programs managed by the SIAP have saved over 55,000 participating residents more than $10 million compared to Ameren’s default rates. Earlier this year the SIAP negotiated long-term electric supply rates for nearly all Southern Illinois residential electricity customers in the Ameren utility area. This long-term approach to electricity rate negotiations provides rate certainty and protection from volatility in electricity futures through December of 2020.
Residents of Marion, Carbondale, Herrin, Murphysboro and several others in the Southern Illinois Region began their new contract with Homefield Energy (Dynegy) in June. Residents with this June start date will begin seeing a portion of the credit in August and subsequent months. Other communities within the Southern Illinois Aggregation Partnership (SIAP) such as Mount Vernon, Lawrenceville and Nashville will continue with their current contracted rate through the end of 2017. The current rate in those communities already reflects the credited amount being applied to the June 2017 start communities. The credit is part of a balancing between the negotiated aggregation rates and Ameren’s default supply rates to insure residents are continuing to maximize the long-term benefits of the aggregated buying group.
“In addition to leveraging the bulk buying power of combining nearly 100 communities for the purposes of negotiating rates, the SIAP also strives to look for every opportunity to provide even more value-add to the communities we represent. The $35 bill credit from Homefield Energy is just one of several opportunities that the SIAP will be presenting to our municipal partners over the coming weeks and months” said Jeff Haarmann, Partner of SIAP.
For more information regarding your specific community, please visit http://www.agellc.com/about-us/ or www.selectenergypartners.com/sep/electric-aggregation.