Verde Energy USA Awarded Village of Shabbona, IL Aggregation Contract

NORWALK, Conn., June 8, 2012 /PRNewswire/ -- The Village of Shabbona, IL announced on May 30, 2012 that Verde Energy USA has been selected to supply the Village with low-cost electricity following a competitive bidding process under the Village's electricity choice aggregation program. Verde Energy USA, a leading alternative energy supplier, participated in an open RFP process after the Village passed a referendum on Tuesday, March 20, giving permission to the Village to arrange for the supply of electricity for its retail customers at lower rates. The RFP process was overseen by Rock River Energy Services Co. and included multiple bids.

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"The Village of Shabbona continues to play a leadership role in helping its residents and businesses conserve energy and save money," said Village President Claudia Hicks. "We took the savings message to the public and our residents resoundingly approved electrical aggregation for the Village," the president added.

Under the terms of the agreement, residents will receive a two-year fixed rate of $0.0475/kWh, and a savings up to 40% off current utility rates. In addition, all Shabbona residents will have unlimited access to Verde Energy Savings Solutions (ESS) tools at www.ilmunipower.com/shabbona. These tools will allow all Village customers to monitor and analyze their monthly energy usage, access information on how they can reduce their energy consumption, and purchase energy savings products at a discount.  

"Verde Energy USA is grateful for the opportunity to work with the Village of Shabbona," said Thomas FitzGerald, President and CEO of Verde Energy USA. "We are thrilled to serve the Shabbona community and look forward to delivering substantial savings."

The Village of Shabbona has established an "opt-out" aggregation program that automatically enrolls residents and businesses to receive their new, lower fixed rate. Residents currently with another provider, other than the utility, will not be enrolled. Letters regarding the aggregation program, including information on how to "opt-out" before it starts, were mailed to retail customers of the Village on June 4th. Switching electric providers is completely seamless and there will be no service interruption. ComEd will continue to be responsible for the delivery of electricity, maintenance and responding to power outages.

"We're looking forward to residents starting to see the savings on the supply portion of their electric bills later this summer," Hicks said. "Their bills will continue to come from ComEd and Verde Energy USA will be listed as the supplier on the bill," said the president.

Estimated savings are based on the weighted average of ComEd's BES residential (non-electric space heating) Price to Compare (PTC) of 8.04 cents per kWh for the period from June 2012 to May 2013.

About Verde Energy USA

Verde Energy USA Illinois, LLC is an Alternative Retail Electric Supplier (ARES) in the State of Illinois and is a subsidiary of Verde Energy USA Holdings, LLC. Verde Energy USA supplies electricity along with related services to residential and commercial customers behind 17 utilities in Illinois, Connecticut, New Jersey, Pennsylvania, and Ohio.

For further information please contact Anthony Menchaca, Chief Marketing Officer, Verde Energy USA, 203-663-5702, mailto:[email protected]

SOURCE Verde Energy USA