URBANA, IL (Chambana Today) – Participants in Urbana’s Municipal Electric Aggregation (MEA) Program will have lower prices to look forward to with a brand-new vendor.
The MEA Program is an initiative where the city buys electricity in bulk from a competitive supplier for its residents and businesses through a competitive bidding process. Participation is voluntary, but those who don’t opt in are automatically enrolled in the program. The MEA Program allows more community involvement in the city’s energy supply and allows people to acquire more affordable and reliable sources of energy.
Recently, Urbana’s supply contract with the company Energy Harbor for the municipal aggregation companies expired and ends this December. On July 23, 2024, Urbana, as well as other Central Illinois communities, accepted a price from the company Constellation which allows Urbana to purchase 25% of green power as part as the final electric rate. This means cheaper power that is more environmentally friendly.
“Depending on your energy usage, you should expect to save about 12 to 24 dollars per year,” said Scott Tess in a phone interview.
An opt out letter from Constellation will be mailed to all participants next year with all of the options available, services, rates and terms. The MEA rate is currently $0.08136 per kWh compared to the new rate which is $0.08036 per kWh. The new contract will last from December 2024 to May 2025. The City of Urbana asserts that the best option is to do nothing and stay in the program come December.
For more information, visit urbanaillinois.us.