CHICAGO (Oct. 24, 2012) - Bridgeview, Ill., has chosen Constellation, a business unit of Exelon Corp. and longtime retail electricity supplier in Illinois, to supply residents with low-cost electricity following a competitive bidding process under the state's electricity choice aggregation program.
"This 18-month agreement will deliver exceptional savings opportunities to the residents of Bridgeview," said Bruce Stewart, chief marketing officer for Constellation. "We're proud to add the residents of Bridgeview to our long and growing list of Illinois customers. This agreement illustrates that the competitive market continues to deliver exceptional value and is helping homeowners and businesses lower their electricity bills."
The Village Board voted unanimously on Oct. 17, 2012, to purchase electricity from Constellation, an Alternative Retail Electric Supplier.
Bridgeview officials calculate that the 18-month term at a rate of 4.852 cents per kilowatt hour (kWh) is approximately 42 percent lower than Commonwealth Edison's current BES residential (non-electric space heating) rate of 8.324 cents per kWh. The difference represents estimated savings of $275 for a typical single family home using 10,000 kWh on an annual basis, and $380 during the entire term of the contract. Based on the new lower rate, the aggregation program is expected to result in communitywide savings of roughly $2.3 million over 18 months.*
Electric service under the newly negotiated rates is scheduled to begin as early as December 2012.
Constellation will work with Village of Bridgeview officials to notify all eligible customers of the electric supply rate, terms and conditions and their right to opt-out of the program. Residential and small commercial retail customers will have the right to opt-out of the aggregation program without penalty and continue to receive ComEd-purchased electricity. Customers who do not opt-out can leave the program at any time within the 18-month term without penalty.
To learn more about the electricity aggregation program, Bridgeview residents can contact a member of Constellation's dedicated customer care team at 1-800-718-1493.
*Commonwealth Edison's rates are subject to change; therefore, we cannot guarantee savings over the full term of our price plans. Our price does not include any taxes, utility distribution charges or other utility fees, charges or credits. Estimated savings are based on Commonwealth Edison's Price to Compare (PTC) for BES residential (non-electric space heating) rate of 8.324 cents per kWh in effect October 1, 2012 - May 31, 2013, which includes an Electricity Supply Charge of 7.514 cents and a Transmission Services Charge of 0.810 cents. Commonwealth Edison also invoices its customers for Purchased Electricity Adjustment (PEA), which may be a charge or a credit, and is not included in Commonwealth Edison's PTC. Customers on Commonwealth Edison's BES residential (electric space heating) rate will not save.
The Constellation family of retail electricity and natural gas suppliers (www.constellation.com), are subsidiaries of Exelon Corp., and are leading competitive retail suppliers of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's retail businesses serve more than 100,000 business and public sector customers, including more than two-thirds of the Fortune 100, and nearly one million residential customers.
Exelon Corporation (NYSE:EXC) is the nation's leading competitive energy provider, with approximately $33 billion in annual revenues. Headquartered in Chicago, Exelon has operations and business activities in 47 states, the District of Columbia and Canada. Exelon is the largest competitive U.S. power generator, with approximately 35,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. Exelon's utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Learn more at: www.exeloncorp.com.