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Posted on: August 28, 2020

Electric Aggregation Update

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In 2012, the village had a referendum on whether to allow the village to purchase electricity from electric aggregation programs. Riverside voters approved the referendum by 75%.

In the early years of electric aggregation, Riverside was able to procure lower electric rates than those offered by ComEd. In more recent years, the main advantage of electric aggregation programs is that they allow the village to ensure that all residents receive 100% green energy through the purchase of Renewable Energy Credits. This preference for green energy furthers the village’s commitment to environmental sustainability.

Every few years, the village enters into a new contract with an electric aggregation supplier. This allows the village to ensure residents are getting the best value for 100% green energy in a constantly changing energy marketplace.

Riverside’s current electric aggregation supplier is Dynegy Energy Services. Beginning in October, the new electric aggregation supplier will be MC Squared Energy Services. The village chose MC Squared Energy Services because it ensures 100% Renewable Energy Credits to all residents at the lowest rates, and the company provides a $10,000/year Civic Contribution to the village.

Unlike prior contracts, the intricacies of the energy marketplace are such that under the new contract the village was divided roughly into two equal groups. One group receives its electric supply from MC Squared Energy Services, and the other group receives its electric supply from ComEd. In either case, MC Squared Energy Services will purchase Renewable Energy Credits for all accounts in those two groups. There is a third, very small, group of residents who have made independent arrangements with either ComEd or some other alternative retail energy supplier. For those residents, they will have to decide whether to remain with their current choice or opt into the electric aggregation program with MC Squared Energy Services.

In connection with this change in suppliers, two different letters were mailed out to residents. About one-half of residents received a letter on 8 ½ X 11 sized paper, and the other half of residents received a letter on 8 ½ X 14 sized paper.

The letter on 8 ½ X 11 sized paper is an opt in letter that informs you that your current supplier is ComEd and that if you don’t want ComEd you may opt in and choose MC Squared Energy Services instead.

The other letter is an opt out letter. In this case, you are already enrolled with MC Squared Energy as your supplier and you will receive your electricity from them unless you opt out and say you want to receive your electricity from ComEd.

So, there are four possible scenarios:

If you got the opt in letter, you may either 1) Do nothing and stay with ComEd or your currently chosen supplier; or 2) Choose to opt in with MC Squared Energy Services.

If you got the opt out letter, you may either 1) Do nothing and stay with MC Squared Energy Services; or 2) Choose to opt out and return to ComEd.

Under all of the above scenarios, all residents will receive 100% green energy through Renewable Energy Credits and pay exactly the same rates except for residents who have chosen a supplier other than MC Squared Energy Services or ComEd. These latter residents will receive electricity and rates per their contracts with their chosen suppliers.

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