The City of Chicago has chosen Integrys Energy Group to provide electricity for 1 million residents. The Chicago Tribune reports the city council must still vote on the deal, which has been announced by Chicago mayor Rahm Emanuel.
The deal is not without caveats. Integrys has agreed to a condition that no energy for the city come from coal. The change will be a major reduction for Chicago, which currently sees as much as 40% of its power from coal.
Exelon subsidiary Constellation NewEnergy was also considered to power the city, before the deal was announced. Integrys is expected to see an additional $300 million in revenue from the deal. Residents should also see extra funds, as the change in supplier is estimated to save Chicagoans up to 25% off their bills.
The deal runs through May 2015.