YORKVILLE – The Yorkville school district will have a new electricity provider after its previous one recently went bankrupt.
The Yorkville School District 115 Board of Education voted, 6-0, to approve a three year contract with Titan Gas & Power during the board's special meeting Monday, Nov. 11. Board member Ashley Rhea Shields was absent from the meeting.
Mindy Bradford, executive director of finance and operations for the school district, said the district recently was notified that electricity provider Energy.me went bankrupt last month. She said district officials immediately began working with electricity broker Progressive Energy Group to identify replacement options as soon as Yorkville’s current electricity contract was officially rejected through the bankruptcy filing.
Bradford said the broker facilitated a quick bid process to identify potential new electricity providers for the district and the lowest bidder was Titan Gas & Power at $0.06198 per kWh for a 36-month contract.
"It'll mean about a $14,000 incremental cost on an annual basis," Bradford said.
According to district documents, officials originally were told by the broker they needed to choose a new supplier by a Nov. 12 extension for most of the district accounts or the district accounts would automatically revert back to ComEd’s standard service pricing of $0.07262 per kWh by the end of the month.
District officials said it would have cost the district $508,340 per year with ComEd instead of the approved $433,860 per year with Titan, based on the district’s current annual usage level of about 7 million Kilowatt hours.
• This version of the story clarifies cost differences between ComEd and Titan.