After a year of purchasing electric power from MC Squared as part of an eight-community consortium, the Lake Forest City Council unanimously approved amendments to its original contract at Monday’s meeting.
The change will bring the added benefits at a time when the company will be able to negotiate the best possible price for Lake Forest and the other communities for the next year starting June 1.
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The contract changes will provide the City with updated customer account information at least twice a year at the company’s cost, an internet based platform to ease the way for new customers, elimination of a $25 early termination fee and an increase in renewable energy credits.
Of the eight municipalities in the group—Deerfield, Lake Bluff, Highland Park, Glencoe, Northbrook, Park Ridge and Skokie—only Lake Forest requires its residents to take the renewable energy option.
City Manager Bob Kiely said the additional cost for the average Lake Forest home was $25 per year. That additional cost will be reduced to $12.50 per year under the changes to the contract.
“There was discussion at the time and we thought it was a way to be good stewards of the environment,” Kiely said. “The City Council felt it was important for us to be a leader.
The average savings for Lake Forest residents was $47.50 less than the rate charged by Commonwealth Edison in the first month of the contract while Lake Bluff citizens saved $38.79 per month for the same period while not required to pay for renewable energy.