|Village Residents – Electric Aggregation Update|
You are likely aware by now of the Village’s electric aggregation supplier, Volunteer Energy Services, Inc. (VESI), filing for Chapter 11 bankruptcy towards the end of March. While this indicates VESI intends to return all of its customers to the AEP default supply service option, there will be no interruption in your electric supply. Over the past few weeks, the Village has been working to obtain alternative supplier pricing options for the Village’s program. Due to increases in wholesale electric prices, which trade publicly on an open market and change by the moment, alternative supplier pricing is not currently advantageous. While the Village will continue to evaluate ever-changing market conditions, we recommend you remain AEP supply until a new program rate is negotiated.