CHICAGO (CBS) – Mayor Rahm Emanuel said Wednesday he’s backing efforts to buy electricity in bulk for the City of Chicago, possibly from a company other than ComEd’s parent firm.

WBBM Newsradio Political Editor Craig Dellimore reports the City Council’s Finance Committee is expected to vote Friday on whether to place a referendum on the November ballot, asking voters if the city should deal directly with electricity suppliers to shop for energy prices.

The mayor said he’s all for the idea.

“I do support putting it on the ballot,” Emanuel said. “I’ve looked at other cities. Buying in bulk can save homeowners and residents money. So, therefore, I’ll support putting it on the ballot, and I’ll advocate for it.”

More than 100 suburbs already buy their electricity in bulk from suppliers who offer lower energy rates than ComEd.

“I believe it will lead to lower utility rates for our residents,” Emanuel said. “It has worked in other places.”

Supporters say the move could save the average resident $14 a month on electric bills.

LISTEN: WBBM Newsradio Political Editor Craig Dellimore reports