officials have approved a two-year contract with First Energy to provide electricity supply services to residents.
Compared to the upcoming ComEd rate of 8.5 cents per kilowatt hour, with First Energy officials said Montgomery residents will pay 3.68 cents per kilowatt hour. The new rate, which will save the average household an estimated $337 annually, is expected to take effect later this summer for all eligible customers.
All eligible customers will be automatically enrolled into the program unless they elect to opt out, and customers should expect to receive a letter from First Energy in the mail explaining more in the coming weeks.
Village officials sought bids from electricity providers in response to a referendum held last fall.
Officials estimate the municipal aggregation program will reduce electricity charges for all Montgomery residents by almost $2 million dollars in the first year.