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Electric Supply Price

Post Date:06/08/2020 8:10 AM

Quincy officials have alerted city residents that Ameren Illinois’ recently announced electric supply price of 4.369 cents per kilowatthour is approximately six-tenths of a cent less than the rate of 5.091 cents with the city’s electric aggregation program.

Although the city’s rate is among the lowest 25 percent of rates offered by the 520 Illinois communities with electric aggregation initiatives, Ameren’s latest annual rate adjustment is lower than those of all but three of the programs in Illinois. The decrease in Ameren’s rate has largely been a result of lower demand for energy caused by an economy slowed by the COVID 19 corona virus pandemic in Illinois.

Under the city’s contract with its electricity supplier, Homefield Energy of Collinsville, participants may opt out at any time and at no cost by calling Homefield toll-free at 866-694-1262. Unless they choose another alternate electricity supplier, those who opt out and remain with Ameren longer than two months are required to continue with the  utility for a total of 12 months. They can return to the city’s program after that.

Illinois’ electric aggregation law of 2010 enabled a community’s residents to approve programs to seek competitive rates for electricity. The law’s opt-out provision was designed to assure residents had access to the lowest rate available.

Consumers who have additional questions about the program may call Homefield’s customer care center toll free at 866-694-1262.

SIMEC LLC of Quincy is the consultant for the city’s program.

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