The Diamond Village Board of Commissioners on Tuesday awarded a three-year contract to DaCott Energy Services to continue servicing the village with electricity.
The agreement was set to expire in the absence of a village board vote to renew.
Mayor Terry Kernc spoke of why a three-year deal is needed.
The agreement, as approved, stipulates that DaCott Energy Services will charge the village at a rate of 0.04602 per kilowatt per hour, officials said. The former rate was 0.04799 per kilowatt per hour.
Kernc said the village anticipates it will realize a cost savings of $7,885, if electric usage remains the same.