A program that locked Orland Park residents into a fixed-rate electricity program has saved them about $5.5 million after 16 months, village officials announced.
The savings represent about $292 per household over that time, or about $18 a month, according to statistics provided by the Northern Illinois Municipal Electric Collaborative, or NIMEC.
Orland Park had enrolled 18,265 households into the program as of October 2013, the latest available data for the village's program. Residents not in the program are paying about a penny more per kilowatt hour than those in the program.
"We think it's been a great program," Village Manager Paul Grimes said. "Even if the next round of pricing shows little savings, we will have had two years of very nice savings."
People could opt out of the program if they wanted to find their own provider. But, as Grimes says, "It would be unlikely they would see the same rate that we chose as a village."
When the village entered the 24-month program in July 2012, rates were low and were locked in. Commonwealth Edison rates are expected to rise in June, so rate payers could see higher electricity costs at that time, NIMEC officials said.
Village officials said they will review rates and could go back to the board and recommend another deal, Grimes said. Anyone not in the program should contact Nordic Energy Services and ask for the Orland Park fixed rate.