New Year Will Bring Lower Electrical Rates

Village approves new power supply agreement expected to save residents and small businesses more than $2 million.

Grayslake residents and small businesses can expect to see lower electricity rates starting next year thanks to a new power agreement approved by the Grayslake Village Board. By working together on the bid process to seek a third-party electrical supplier, the communities of Grayslake, Lincolnwood and Oak Brook have locked in a 2-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. These new rates, expected to go into effect Jan. 2012, represent a 30 percent reduction from prevailing ComEd rates for approximately 7,084 Grayslake residents. About 661 small businesses that fall under a certain usage are expected to see a 32 percent rate …

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