Wauconda could soon become the 20th Illinois town to switch electricity providers since the state deregulated its energy market in 2009, The Wauconda Daily Herald reports.

David A. Hoover, director of an organization that helps municipalities navigate the deregulated energy market, told the Wauconda village board that residents could save 20 percent on their electric bills if the town switches from the state utility company to a private provider, according to The Daily Herald. Hoover said homeowners who get their electricity from private enterprises save an average of $175 annually.

Though the Wauconda board greeted Hoover's presentation enthusiastically, the town's residents will ultimately decide the matter in a referendum. If voters give the go-ahead, Wauconda could begin shopping for a new electric company next spring, the source reports.

Art Osten, village administrator of Fox River Grove, told The Daily Herald that Fox River residents have seen a 23 percent reduction in their energy bills since the town switched to a private provider that will also make wind power available to the town for the first time.

Under the terms of two laws recently signed by Illinois Governor Pat Quinn, commissions will begin studying potential wind farm sites throughout the state.