Champaign County Chamber Energy Co-Op Members Learn About Future Savings
By Don Dodson, The News-Gazette, Champaign-Urbana, Ill.
May 4–CHAMPAIGN — Businesses that joined an energy-buying cooperative formed by the Champaign County Chamber of Commerce have found out how much they’ll save.
The chamber reported this week that participants are expected to save an average of 7.6 percent on electricity the first year, 15 percent the second year and 30 percent the third year.
That could amount to $1.15 million in energy savings for participating businesses in Champaign County the first year, said Laura Weis, the chamber’s president.
In partnership with the Peoria and Decatur chambers, the Champaign County chamber hired CQI Associates of Columbia, Md., to select an electricity supplier for co-op participants and negotiate a contract.
Weis said Pittsburgh-based Strategic Energy won the bid. That company is licensed by the Illinois Commerce Commission to serve Illinois customers.
Customers will receive a rate of 6.89 cents per kilowatt-hour, compared with AmerenIP’s average of 7.45 cents per kilowatt-hour, Weis said. “The supplier (Strategic) was able to review each member’s annual usage with Ameren so they could determine how much energy the group used as a whole in a year’s time,” she said.
As the result of legislation deregulating electricity prices, Illinois commercial customers can choose to stay with their current energy supplier or buy electricity from another licensed supplier on a contract basis.
By forming an energy-buying cooperative, businesses hoped to use increased purchasing power to get the best available market price. Joining the cooperative also saved businesses the time and expense of choosing a supplier of their own.
Altogether, 169 Champaign County chamber members, with 456 business locations, joined the cooperative. Members paid $300 per business location, with the amount capped at $3,600.
The chamber has already scheduled four informational meetings for businesses interested in taking part in a second round of negotiations for electricity.
The meetings, which will be held at the chamber office, 1817 S. Neil St., Suite 201, C, will be:
3 to 4:30 p.m. Monday.
7:30 to 9 a.m. Tuesday.
3 to 4:30 p.m. May 21.
7:30 to 9 a.m. May 22.
Businesses interested in attending should register by calling Norma Wesley at the chamber, 531-4669. If they decide to become part of the cooperative, they will need to be Champaign County Chamber of Commerce members.
The second round of negotiations for an electricity contract will be done in partnership with the Peoria, Decatur and Effingham chambers, Weis said.
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