Alton Secures Lower Electricity Rates With New Energy Agreement
ALTON - The City of Alton has renewed its municipal electricity aggregation program with Homefield Energy, aiming to shield residents from fluctuating electricity supply rates. The new agreement, which will take effect in December 2024, will provide a fixed rate of $0.09054 per kilowatt hour (kWh), representing a significant decrease from the current rate of $0.1220 charged by Constellation. This decision was announced in light of ongoing volatility in the energy market. The new rate, effective through the May 2025 meter read date, is expected to yield monthly savings of over $25 for an average account using 800 kWh. Additionally, the program will transition from the higher summer delivery rates to lower non-summer rates, further enhancing savings for participants. Alton officials, along with their consultant Good Energy, opted for a shorter contract duration due to the unpredictable nature of the energy market. Since the aggregation program's inception in 2013, participants have experienced
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