More competition from electric suppliers could save Romeoville money

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Updated: February 23, 2012 8:12AM

ROMEOVILLE — The village of Romeoville could see significant savings for its municipal power supply due to increased competition from electrical suppliers.

Village trustees approved a measure that will allow Northern Illinois Electric Cooperative (NIMEC) to invite bids for the village’s water and sewer facilities.

The village’s current 3-year contract with Exelon expires on May 30 said Finance Director Kirk Openchowski who recommended a 1-year contract for the next supplier to take advantage of continually shifting rates.

Openchowski said that rates were down considerably from where they were when the village inked the three3-year deal and expected new bids to grab rates 10 percent to 15 percent lower, realizing a savings of $150,000 to $190,000 per year.

Openchowski expected the bidding process to be completed by the end of March.

Trustee Sue Micklevitz questioned the reasoning behind the one-year contract.

Village manager Steve Gulden acknowledged a slight risk in locking in rates for one year but said with the more competitive nature of the electrical supply market, rates seemed to be on a downward trend.

“So it’s good for us to evaluate where the trends are before we lock ourselves in,” said Gulden. “I think the competition may continue to drive the rates down.”

Mayor John Noak noted that the bidding for municipal electrical supply was separate from a residential electricity aggregation plan that voters will be asked to approve on the March ballot. If approved, the plan could result in lower rates for residents as well.

“This has nothing to do with residential aggregation process,” said Noak.

In other business, finance committee chairperson, Linda Palmiter reported that the State of Illinois continues to be three months behind in income tax payments to the village, owing $731,000.

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