Compare Illinois Electric Prices

Best electricity rates in Illinois

Average electricity rates in Illinois in November 2024

The current average residential Illinois energy rate is 15.35 cents per kilowatt-hour (kWh), which is about 8% lower than the national average of 16.62 cents per kWh, according to the latest data from the Energy Information Administration (EIA).

The average business electricity rate in Illinois is 12.19 cents per kWh, about 10% lower than the national average of 13.58 cents per kWh.

Types of Illinois electric plans

Energy customers have several options for energy plans in Illinois, each with its own pros and cons based on their energy needs and preferences. Here’s an overview of popular Illinois energy plan types.

Fixed-rate plans

With a fixed-rate plan, your rate is locked in for the contract term, which can last between 12 and 36 months. The main perks of these plans are price stability and bill credit opportunities. The downside is that you’ll have to pay an early termination fee (ETF) if you switch plans before your contract is up.

Variable-rate plans

If you choose a variable-rate plan, your monthly bill will fluctuate based on wholesale gas and electricity rates in Illinois. You may save if energy rates decline, but you will pay more when they spike. On the plus side, you can change plans at any time since there is no contract involved.

No-deposit and prepaid energy plans

Many electricity suppliers in Illinois require a deposit before you begin service. If you’d rather avoid this initial fee, you can opt for a no-deposit plan. One popular type of no-deposit plan is a prepaid plan, which lets you pay for your electricity in advance. The provider will notify you to reload your account when the balance runs low.

Green energy plans

Renewable energy, such as solar power, is becoming more common in Illinois. If you want to help the environment by switching to green energy from electricity suppliers in Illinois, input your ZIP code and filter for available green energy plans near you.

Business energy plans

Thanks to deregulation in Illinois, business owners also have the power to choose their providers. You can fill out our business energy form or call the number on your screen to speak with an energy expert to start customizing an Illinois commercial energy plan.

Illinois electric companies

Energy suppliers and utility companies have different functions in deregulated energy markets like Illinois. Understanding the differences between the two can help you navigate the energy industry.

Energy suppliers

Energy providers purchase electricity or natural gas and sell it to you through an energy plan. They also manage your account and billing needs. There are many electric suppliers in Illinois, and SaveOnEnergy makes the process of comparing plans and prices simple.

Some of the top Illinois electricity providers on our marketplace include:

• Direct Energy
• Smart Energy
• Public Power
• Constellation Energy

Utility providers

In contrast to electricity companies, utility providers deliver electricity to your home, maintain power lines, and restore power during outages. Your utility company is determined by your location, so you can’t choose a different option.

There are four utility companies in Illinois. Be sure to select your local utility company when you enter your ZIP code on our marketplace.

• Ameren Illinois
• Mt. Carmel
• MidAmerican Energy
• Commonwealth Edison (ComEd)

Contact your Illinois utility company

If you experience a power outage, contact your utility company, not your Illinois electric provider. Depending on which utility services your area, you can contact them online or by phone.

• Ameren Illinois
  • Outage center
  • 800-755-5000
• ComEd
  • Report an outage
  • 800-334-7661
• MidAmerican
  • Report an outage
  • 888-427-5632
• Mt. Carmel
  • Outage information
  • 618-262-5151

Illinois price to compare

The price to compare (PTC) is the price per kWh for electricity set by your utility company. You can use this price to determine if you’d like to get your electricity from your utility or search for cheaper plans from Illinois electric providers. You can also learn more about your plan’s pricing by reading its Electricity Facts Label (EFL).

Here are the current PTCs from Illinois’s top utility companies:

• Ameren: 8.136 cents per kWh (until September 30, 2024)
• ComEd: 6.9 cents per kWh (until September 30, 2024)

Average electric bill in Illinois

The current average monthly electricity bill for residential customers in Illinois is $110.52 per month, based on data from the EIA. That’s about 26% lower than the national average bill of $149.41 per month.

How to find the best electricity rates in Illinois

Illinois electricity rates change throughout the year based on demand and wholesale energy prices. Deregulated energy markets are designed to help you get the most favorable plan for your home or business. Through SaveOnEnergy’s marketplace, you can find the best electric plans in Illinois and use your ZIP code to compare rates in your area. Here’s how it works:

• Enter your ZIP code. Once you enter your ZIP code, you can compare electricity rates from the best electric suppliers in Illinois. Use the filters to help narrow down your search by provider, plan type, renewable energy, and more.
• Sign up in minutes. Found a plan that works for you? Signing up online is easy. If you need questions answered, you can call the number on your screen to talk to our energy experts.
• Let your provider handle the rest. After you’ve signed up for your plan, your new Illinois energy provider will take care of the setup with no interruption to your service.

Solar energy in Illinois

Although Illinois isn’t one of the highest solar-producing states in the U.S., it ranks 15th in the nation for total installed solar capacity. There are various incentives for installing solar panels in Illinois to help make the cost manageable for you. SaveOnEnergy can help you connect with a trusted local solar installer.

Community solar might be a good option if you want to explore buying solar energy without installing your own panels. These programs allow you to share a solar array with other residents and gain credits toward your energy bills. While you won’t gain the full benefits of solar ownership, it’s a way to save on energy and reduce greenhouse gas emissions.

SaveOnEnergy’s tips for easy electricity service setup

• Don’t forget to read your plan’s Electricity Facts Label before signing up. It contains important information including:
  • Price per kilowatt-hour based on usage
  • % renewable energy sourcing
  • Early termination fees
• Enjoy hassle-free supplier setup. Once your order has been confirmed, your new supplier will set up service with your utility, or transmission and distribution service provider (TDSP) – but don’t worry, there shouldn’t be any interruption to your power during the switch.
• Understanding your electricity bill. Your local TDSP will still deliver your electricity and maintain electric infrastructure including meters and power lines. Your utility fees can be found as TDU or TDSP charges on your monthly bill. They are independent of your supplier rate.

Illinois electricity rates by city