R-15-24 Electric aggregation for Village owned facilities418 Main Street I Lemont, IL 60439
TO: Village Board Meeting
FROM: Darshana Prakash, Finance
THROUGH: George Schafer, Village Administrator
SUBJECT: Resolution Authorizing the Village Administrator to enter into an electric
aggregation agreement for Village owned facilities
DATE: February 26, 2024
SUMMARY/BACKGROUND
The Village owned facilities (street lights, pump stations, lift stations, etc) are currently under
contract with Constellation at a price of $0.05778/kWh. This is a 12 month contract that
expires on May 24, 2024.
At the February 19, 2024 Committee of the Whole meeting, Elia Streltsov, energy consultant
with Exigent Solutions, presented the electric aggregation rates for a 12 - 24 - 36 months term
as well as provided recommendations on desirable contract terms that would result in cost
savings to the Village.
Given the volatility of the energy rates and the immediate need to lock in a contract at a
favorable price, the Board agreed to give the Village Administrator the authority to act on their
behalf.
This Resolution gives the Village Administrator the authority to enter into a contract with the
energy supplier who offers the most favorable price on a given date for a 12 - 24 - 36 term
within the parameters stipulated in the Resolution.
ANALYSIS
Consistency with Village Policy
STAFF RECOMMENDATION
Approve Resolution Authorizing the Village Administrator to enter into an electric aggregation
agreement
BOARD ACTION REQUESTED
Approve Resolution Authorizing the Village Administrator to enter into an electric aggregation
agreement
ATTACHMENTS
Resolution for Village properties - Feb 26, 2024.pdf
Resolution No. ®�l
A Resolution Authorizing the Village Administrator to Enter into an Electric Aggregation
Agreement
WHEREAS, the President and Board of Trustees desire to enter into agreement(s) with
certain suppliers of electricity allowing for a financial savings to the Village regarding the
Village's use of electricity for the facilities it owns and operates; and
WHEREAS, because of the timing required to receive the largest savings, the vendor
and actual cost of the electricity provided has not yet been established; and
BE IT RESOLVED by the Village President and Board of Trustees of the Village of
Lemont as follows:
SECTION ONE: The Village Administrator, in his discretion, is authorized to execute
one or multiple agreements with the same or different electricity suppliers, that have been
approved as to the form and content by the Village Attorney and establishes a financial savings for
the cost of electricity for Village owned and used facilities; and to take any other steps necessary
to carry out this Resolution.
SECTION TWO: The Village Administrator is authorized to contract for a 12 month term
with the lowest priced energy supplier or contract for a 24+ month term if the energy price is at or
below the 9 year average of $0.05042/kWh, hedging the maximum term possible.
SECTION THREE: This Resolution shall be in full force and effect from and after its
passage and approval as provided by law.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL AND DUPAGE,
ILLINOIS on this 26th day of February, 2024.
PRESIDENT AND VILLAGE BOARD MEMBERS:
AYES:
Janelle Kittridge
Dave Maher
Ken McClafferty
Kevin Shaughnessy c/
Rick Sniegowski—
Ronald Stapleton
AT ST:
CHA ENE M. SMOL N
Village ClFeberk
mmm
NAYS: ABSENT: ABSTAIN
John Egofske
President
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JOHN EGOFSKE, Village President
ATTT:
CAA LENE M. S LLEN
Village Clerk
EXHIBIT A
Consulting Agreement with DaCott Energy Services, Ltd.