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Ridge chooses electricity supplier

By Kelly White
Correspondent

Chicago Ridge trustees voted Tuesday to approve an agreement with a new electricity supplier.

The deal with Verde Energy USA will save residents approximately $1.48 million dollars annually, according to village officials. Of the eight qualified bids, ranging from 4.6 to 5.1 cents per kilowatt hour, Verde Energy submitted in the lowest bid. The rate is 44 percent lower than that which ComEd has been charging.

The deal with Verde Energy USA will save residents approximately $1.48 million dollars annually, according to village officials. Of the eight qualified bids, ranging from 4.6 to 5.1 cents per kilowatt hour, Verde Energy submitted in the lowest bid. The rate is 44 percent lower than that which ComEd has been charging.

“IEA was able to provide the village with one of the lowest rates of the year with a rate of 4.6,” Streit said. He noted that surrounding suburbs that have entered into electrical aggregation contracts have received higher rates, including Hickory Hills (4.98), Justice (4.87), Palos Heights (4.8) and Orland Park (4.82) and Palos Hills (4.74). Verde Energy also serves Evergreen Park, which secured a rate of 4.62 cents per kilowatt hour.

IEA is hopeful Chicago Ridge can make the switch to Verde by October. Residents will receive a mailing and will have two weeks to opt-out of the aggregation program before the switchover will take place. Residents can opt-out of the program at any time during the two-year contract, and there will be a $50 dollar opt-out fee. Streit informed the Board of Trustees that without the fee, Verde’s rate would be 4.74 instead of 4.6.

Residents will also be offered a Green Option — which produces electricity through renewable energy sources — with a rate of 4.8 cents per kilowatt hour. Forms will be available in the same mailing as the opt-out forms.