New Electricity Contract to Save Lincoln-Way Over $500,000 Next Year
April 17, 2025/Comments Off on New Electricity Contract to Save Lincoln-Way Over $500,000 Next Year
Lincoln-Way High School District 210 is poised for significant energy cost savings after the Board of Education unanimously approved a new 54-month electric commodity contract with Direct Energy.
The agreement, approved at the April 17 board meeting, is projected to save the district more than $500,000 in the next fiscal year alone.
“Approximately $310,000 of that will be a recurring reduction in future years,” Assistant Superintendent of Business Michael Duback told the board.
The district partnered with commodities broker Mike Perry to conduct a request for proposals (RFP) to secure the most favorable electricity rates. Duback explained that pursuing the agreement now allows the district to lock in rates and capitalize on favorable market conditions, leading to substantial budget relief.
The new contract with Direct Energy will begin in December 2025 and run for a term of 54 months. The approval will allow the administration to finalize the contract, ensuring the cost-saving measures are in place for the coming years. The motion to approve the contract was made by Richard C. LaCien Jr. and seconded by Dana Bergthold.
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