Grayslake residents and small businesses will continue seeing a cost savings on their electric bills thanks to the extension of the existing power supply agreement with Integrys Energy Services.
Trustees voted unanimously Tuesday night to approve a five-month extension of the existing contract, which is set to expire Dec. 31, 2013. The contract will be extended to May 31, 2014, just before ComEd's rate adjustments that will take effect June 1, 2014.
Grayslake, Lincolnwood and Oak Brook worked together and locked in a two-year fixed rate of 5.52 cents per kilowatt for residential service and 5.45 cents per kilowatt for commercial service from Integrys Energy Services, Inc. The rates went into effect in January 2012 and represented a 30 percent reduction from the previous ComEd rates for residents.
Engineering Services for Lake Street/Route 120
In other news, trustees agreed to execute a design work order with Baxter & Woodman for Phase I and Phase III engineering for the Lake Street/Route 120 improvement.
The proposed improvements include the addition of right and left turn lanes on Lake Street for northbound and southbound traffic, along with the addition of a right turn lane on Route 120 for eastbound traffic.
Mayor Rhett Taylor said the improvements would improve traffic flow.
The engineering work will not exceed $130,000.