The city said rates will increase in its electric aggregation program this summer but it believes participants will still save money.
The energy supplier for the program is Homefield Energy, and aldermen this week approved a contract for the firm to continue in that capacity.
As part of that contract, residents enrolled in the program will pay a rate of $0.05398/kWh -- an increase of one-cent -- beginning July 1.
City Manager Todd Thompson said the rate will still cost less than Ameren’s estimated rate of around $0.06/kWh.
“Energy prices do change, and we still think this will provide a good value to people,” Thompson said.
Alderman Ken Goad asked about other energy suppliers. Thompson replied that residents can choose any provider they want, but he said the city has only one official provider.
“Homefield is the group that we’ve contracted with. So if other providers are contacting you and saying they’re the city’s provider, that’s not accurate,” Thompson said.
Thompson said contracts signed under false pretenses can be considered invalid.
Residents who want to choose a different provider will receive information on how to do that. The city said it will send out mailers next week.
