UPDATED: Elmhurst City Council Gives Committee Flexibility to Power Shop
Committee will review bids from electricity providers Tuesday night.
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UPDATE Tuesday, 12 p.m.: Elmhurst's 4th Ward Alderman Kevin York has provided the attached .pdf to provide more clarity on the subject of renewable energy credits.
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Elmhurst's Finance, Council Affairs and Administrative Services Committee will receive bids from electricity providers on Tuesday, May 22, and City Council members on Monday said they are confident the committee can evaluate the companies in terms of cost savings and their ability to provide green energy.
The committee is planning to seek out electricity for Elmhurst's residential and small commercial users that is cheaper than what ComEd currently can provide. Residents expressed their approval of taking electricity supply to the open market through a referendum March 20. During two recent public hearings, residents also have said green energy is a top priority.
With rates fluctuating daily, committee members told the full council they are prepared to weigh the merits of the bids they receive with a target of obtaining at least 50 percent of the city's energy from alternative sources, namely wind energy.
Committee members told the council they expect aggregation will save customers more than 40 percent, or an average of about $420 per year.
Barbara Lonergan
7:44 am on Tuesday, May 22, 2012
The city has a target of purchasing at least 50 percent Renewable Energy Credits, or RECs. The city will not be purchasing actual green energy, but will purchase RECs to support wind generators as an incentive to build more renewable energy projects or support in-the-ground projects,
Scott
8:06 am on Tuesday, May 22, 2012
So in other words, we will pay more than we would have if we didn't purchase the RECS. Thank you for offering up money out of my pocket Barbara. I hope that makes you feel better about yourself as I wouldn't want my money to go to waste.
JSB
8:58 am on Tuesday, May 22, 2012
Depending on the term of the power supply contract, the City Council is agreeing to spend $300,000 to $600,000 on the renewable certificates. These certificates do not change the power sources needed to support our electric needs. There is no green power associated with renewable certificates. Elmhurst residents will still use power generated by coal and natural gas (about 55% fossil fuels with a good portion of the remainder coming from nuclear) . How dare the City Council spend this huge sum of money with little benefit to the local environment or economy. How dare the City Council spend the peoples money with such disregard of any return on the investment in these financial derivatives . This is not the City Council's finest decision and it is a sad day for prudent public policy. I wonder if the City Council would be willing to buy $600,000 of renewable certificates if the money was to come out of the City Budget rather than my pocket? If an individual wants to support renewable certificates, do it on a voluntary basis, not by City Council political mandate. Elmhurst City Council and Staff -- Stop making poor policy decisions on behalf of the people.
Cincinnatus
9:59 am on Tuesday, May 22, 2012
A complete and utter waste of taxpayer dollars.
Karen Chadra
12:14 pm on Tuesday, May 22, 2012
Please see the attached .pdf that was provided by 4th Ward Alderman Kevin York this morning. "I think this dispels a lot of the misinformation that is out there regarding (renewable energy credits)," York said.
Cincinnatus
4:03 pm on Tuesday, May 22, 2012
What information does the .pdf dispel? The market price of a renewable certificate is about $200 MWh, and "regular" generation runs about $125 MWh. So somebody has to pay the difference, either the consumer, or the taxpayer. Since Illinois does NOT have compulsory cap-and-trade requirements for renewable sources at the local or individual level, why are we buying these credits? The only requirements in Illinois are at the generator level, like Amren or Excelon who have the price cooked into their books.