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Tilton trustees approve 36-month energy contract option after staff presents comparative rates
Summary
Trustees approved proceeding with a recommended energy procurement option for village-owned buildings after staff compared current Direct Energy rates with broker proposals showing a 36‑month term at about 8.441¢/kWh.
Village staff presented comparisons of current energy rates and broker proposals for village-owned accounts and asked trustees to approve a contract term to lock in supply rates.
"We are currently with Direct Energy at a rate of 7.122," Staff member (S5) said, noting the village rate for village-owned buildings and explaining the comparative bids that showed a 36-month option at roughly 8.441¢/kWh. Trustees discussed term lengths, the risk of rising prices from the utility (Ameren) and the trade-off between shorter and longer terms. A motion to proceed with the recommended procurement term and broker was made and approved on a voice roll call.
The approved action covers village-owned buildings only and places the village in a contract length intended to reduce exposure to summer price spikes; staff will return contract documents for signature and manage the administrative steps to effect the switch.
