Electricity & Natural Gas Rates in Illinois
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As a resident or business owner in the state of Illinois, you have the power to choose where your electricity and natural gas supply comes from. As part of the Illinois Energy Choice Program, residents and businesses can purchase their energy from a retail energy provider, or REP.
Energy prices in Illinois could go up! Lock in a cheap electricity and natural gas rate today.
Energy is a commodity that is traded in the market like other commodities, depending on the demand its prices fluctuate. Don’t be caught off guard! Plan to shop at an off-peak time and protect yourself from any market fluctuation.
One of the first things to ask about is the pricing options the supplier offers. Generally, these options fall into two categories: Fixed and Variable plan
Fixed Rate Plan – A fixed rate plan allows you to pay the same rate for electricity/natural gas for the length of the plan, even if the market rate fluctuates giving you peace of mind. This plan normally involves a contract for the length of your choice, ranging from 3 to 36 months.
Variable Rate Plan – Variable rate plans allow your electric/natural gas rate to change from month to month based on fluctuations in the market.
If you choose not to switch to a deregulated energy plan, your utility will continue to supply your electric or gas at a default rate keep in mind, the default rate is likely to fluctuate with the natural rise and fall of energy prices. To compare, choose and save on energy rates from a third-party suppliers, simply Call the number on your screen or enter your ZIP code to get started.
Ever since the deregulation of the energy sector in the U.S started in 1992, it helped consumers to choose where their energy comes from. As of now, 16 U.S. states have introduced deregulated electricity market for the consumers giving them the power to choose between multiple energy partners. A deregulated energy plan offers competitive rates for electricity and natural gas as compared to the local Utility companies of the respective states
Illinois began the deregulation journey when state lawmakers passed “The Illinois Electric Service Customer Choice and The Rate Relief Law.” This Customer Choice Act” turned Ameren Illinois Utilities and Commonwealth Edison Company solely into utility companies and allowed large businesses the opportunity to purchase electricity from an ARES.
This energy choice was implemented by October 1999 and made available to all large commercial customers by May 2002. In addition, for the homes and small businesses who weren’t allowed to buy deregulated energy, legislators decreased electricity prices by twenty percent and kept them locked in for ten years to compensate for the lack of choice.
Four years after the utility’s rate caps expired, and 14 years after the AUI in 2011, ComEd markets were deregulated, some 52 companies are now listed as ARES on the Illinois Commerce Commission website. Of those, 13 have obtained Illinois Commerce Commission certification and registration to serve residential customers in ComEd’s territories, and 30 are certified and registered to serve ComEd’s commercial customers. In Ameren’s service area, eight ARES have obtained certification and registration to serve residential customers and 16 have been certified and registered to serve the commercial customers.
The Illinois Commerce Commission educates Illinois consumers on energy choice and certifies competitive electricity and natural gas suppliers to ensure they meet strict requirements for doing business in the state. Illinois Commerce Commission also hosts Plug In Illinois, a tool that enables consumers to compare electric and natural gas options.
The Illinois Commerce Commission regulates public utility services in the U.S. state of Illinois. It is responsible for monitoring and managing electricity related regulations for the state. The organization’s mission is “to balance the interests of consumers and utilities to ensure adequate, efficient, reliable, safe and least-cost public utility services”.
Did you know Illinois’s small and commercial business owners can save on their energy costs, too? Call the number on your screen or fill out this form (Make a Business form and link here) to speak with one of our experts about building a custom energy plan for your business.
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