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The Village of Montgomery is pleased to announce that residents will soon have the option to greatly reduce their electrical costs. The Village recently signed a two-year contract with First Energy to provide electricity supply services to residents. Compared to the upcoming ComEd rate of 8.5¢ /kWh, Montgomery residents will pay 3.68¢ /kWh less for energy, for a 43% savings. The 3.68¢ /kWh savings equates to an estimated $337 reduction in electricity costs annually for an average single family residence in Montgomery. The new rate will take effect later this summer.All eligible customers will automatically be enrolled in the program unless they elect to opt out. First Energy will send a letter to customers in the near future to explain the program and the opt-out procedure if they choose not to participate. Residents will not need to do anything to participate in the program. It’s a smooth process for residents, as they will continue to receive a ComEd bill showing the new supplier’s name on it. The Village sought bids from electricity providers in response to a referendum held last fall. It is estimated that the municipal aggregation program will reduce electricity charges for all Montgomery residents by almost two million dollars in the first year.