In Glenview, Illinois, school district officials recently decided which energy supplier they would like to receive their electricity from, which comes at a time when many residents and businesses are beginning to take advantage of energy deregulation laws that are in place.

According to the Chicago Tribune, members of the school board unanimously voted to approve a one-year contract with retail energy provider GDF Suez, which was one of the 12 suppliers that submitted proposals to become the school's sole electricity provider.

By finding the best electricity rate and switching energy suppliers, the school expects to save $76,000 over last year's electricity costs.

"With budgets the way they are and what is happening in Springfield, we're always looking at ways to make sure we're utilizing taxpayer dollars in the most cost effective way," said district spokesman Brett Clark. "The district is trying to get the most bang for our buck. This is one more way of going about doing that."

Illinois is home to several retail energy providers, which flocked to the state to do business in its thriving competitive energy market.