ALGONQUIN – Potential rates for the village's electrical aggregation program could come in a few weeks, Algonquin's energy consultant said on Tuesday.
The Village Board on Tuesday approved the plan of operation and governance for its municipal electrical aggregation program. The village also joined the Northern Illinois Governmental Electric Aggregation Consortium. The group includes Woodstock, Huntley, Lakewood, Huntley, Ringwood and Genoa.
Members of the consortium plan to go out for bid for a new electricity rate this month.
After a supplier is selected and the rate is determined, residents will have the opportunity to opt out during a 21-day period, said Mark Burns, president of Independent Energy Consultants, which is serving as the village's consultant in the municipal aggregation process.
Notices will go out to residential and small commercial electricity customers.
Algonquin Assistant Village Manager Mike Kumbera said residents would notice new rates from the selected supplier in their August electricity bill, which will still be handled by ComEd.
Voters in Algonquin last month approved creating a municipal electrical aggregation program.
If residents who already have their own alternate electricity supplier want to join the Algonquin program, they would have to terminate their contract with their supplier and pay any termination fee, Burns said.
People who move into the area after a supplier is in place would have to contact the supplier to enroll, but it would be up to the supplier on whether to accept the new customer. If someone opts out of the program, and then decides he wants back in, it would be up to the supplier on whether to accept the customer, Burns said.
Burns said his group will try to reduce any early termination fees to minimal amounts or even to nothing for residents in the Algonquin program.
Burns said price margins on electricity supply rates have lessened in recent years, but he still expected to be able to find savings for residents. The consortium also will ask for renewable energy options.
In other action, the Village Board on Tuesday allowed three businesses to go forward with projects in town.
A 14,120-square-foot medical office building is set to be built for Algonquin Wellness and Med Spa at 2430 Esplanade Drive.
The tenants are set to be a doctors’ group specializing in holistic health and comprehensive medical care, and a medical and aesthetic spa.
Work on the planned location for Goodwill Industries of Northern Illinois at 1430 E. Algonquin Road and construction of a 52,000-square-foot Gander Mountain store at 1400 S. Randall Road also were approved to move forward by the Village Board.
The Algonquin Village Board on Tuesday approved its $39.9 million budget for fiscal 2014-15.
Village officials expect the $19 million general fund budget – which pays for most services including police, streets and parks and recreation – will be balanced, according to village documents.
Among the capital projects the village is planning are construction of a gun range for the police department on Meyer Drive, north of the public works garage, and street, water main and sanitary sewer improvements in the Indian Grove subdivision.