What to know about electricity rates in Illinois
- The average Illinois electricity rate is 17.04 cents per kWh while the average national rate is 16.82 cents
- The cheapest electricity rate is 10.15 cents per kWh for Illinois residents
- Illinois's deregulated electricity market includes 111 providers
Best Illinois electricity rates
Illinois electricity rates range from 10.15 cents to 23.63 cents per kWh. The rates you find vary depending on the providers and plans available to you, and comparing companies is the best way to find better rates. Below are some rates from popular electric companies in Illinois.
What is the cheapest electricity company in Illinois?
| Rank | Provider | Service | Rate (c/kWh) | Customers |
|---|---|---|---|---|
| 1 | Homefield Energy | Energy | 6.07 | 106,072 |
| 2 | Dynegy Energy Services | Energy | 7.01 | 50,654 |
| 3 | AEP Energy | Energy | 7.09 | 46,873 |
| 4 | ResCom Energy | Energy | 8.17 | 93 |
| 5 | MC Squared Energy Services | Energy | 8.45 | 129,489 |
| 6 | CleanSky Energy | Energy | 8.79 | 346 |
| 7 | First Energy | Energy | 9.18 | 133,648 |
| 8 | Eligo Energy | Energy | 10.00 | 14,389 |
| 9 | MidAmerican Energy | Bundled | 10.24 | 86,115 |
| 10 | Realgy Energy Services | Energy | 10.26 | 15,148 |
Because Illinois has a deregulated electricity market, you have the flexibility to shop around for a cheaper electricity bill. Many states don't offer this choice. If you're looking to reduce your energy bill, consider switching to a different provider or plan. Illinois electricity providers offer different types of plans for residents and businesses to satisfy a range of needs.
Average cost of electricity in Illinois
According to our data, the average electricity rate in Illinois is 17.04 cents per kWh. This equates to an average residential bill of $116.38 per month. The national average rate is 16.82 cents per kWh, and Illinois ranks as the 34th lowest priced state in the nation.
| Rate | Usage | Bill | |
|---|---|---|---|
| Illinois Average | 17.04c | 683 kWh | $116.38 |
| United States Average | 16.82c | 875 kWh | $147.24 |
Since the average price is 17.04 cents per kWh or $116.38 per month for residential electricity, prices lower than these can be considered affordable. Electricity rates in Illinois depend on your home size and usage, so the kWh rate is more useful when comparing your rate to the average.
Best electricity plans
In Illinois, the best electricity plans provide competitive rates, renewable energy options, and fixed or variable pricing. Top providers offer reliability, transparency, and customer incentives so you can save money and enjoy responsive support.
We've analyzed the prices, terms, and conditions of popular Illinois electricity plans. Below are our picks for the best residential plans in the state.
| Provider | Contract Term | Rate | Plan |
|---|---|---|---|
36 months | 7.99¢ /kWh | ||
12 months | 8.19¢ /kWh | ||
18 months | 8.39¢ /kWh | ||
24 months | 8.48¢ /kWh | ||
32 months | 8.68¢ /kWh | ||
36 months | 9.09¢ /kWh | ||
36 months | 9.89¢ /kWh | ||
24 months | 10.09¢ /kWh | ||
24 months | 10.19¢ /kWh | ||
36 months | 10.59¢ /kWh | ||
12 months | 10.69¢ /kWh | ||
36 months | 11.39¢ /kWh | ||
24 months | 11.59¢ /kWh | ||
36 months | 55.9¢ /kWh | ||
12 months | 57.9¢ /kWh | ||
36 months | 57.9¢ /kWh | ||
12 months | 59.9¢ /kWh | ||
36 months | 70.9¢ /kWh | ||
36 months | 72.9¢ /kWh | ||
36 months | 77.9¢ /kWh | ||
| See All Plans | |||
Compare Illinois electricity providers
There are 111 electricity providers in Illinois. While some providers only serve specific areas, you have multiple options for electricity wherever you are. Different providers can offer different specials, plan types, and sales throughout the year. However, always read the fine print of the energy plans you consider to avoid hidden penalties.
Residential electricity providers in Illinois
| Provider | Service Type | Rate (c/kWh) | Rate State Rank | Bill | Bill State Rank |
|---|---|---|---|---|---|
| Homefield Energy | Energy | 6.07 | 1 | $61.27 | 2 |
| Dynegy Energy Services | Energy | 7.01 | 2 | $67.14 | 7 |
| AEP Energy | Energy | 7.09 | 3 | $63.90 | 4 |
| ResCom Energy | Energy | 8.17 | 4 | $9.55 | 1 |
| MC Squared Energy Services | Energy | 8.45 | 5 | $70.31 | 9 |
| CleanSky Energy | Energy | 8.79 | 6 | $164.08 | 82 |
| First Energy | Energy | 9.18 | 7 | $71.55 | 12 |
| Eligo Energy | Energy | 10.00 | 8 | $69.90 | 8 |
| MidAmerican Energy | Bundled | 10.24 | 9 | $76.68 | 13 |
| Realgy Energy Services | Energy | 10.26 | 10 | $78.42 | 15 |
Showing 10 of 111 providers
Business electricity rates in Illinois
Commercial rates are typically cheaper than residential rates in Illinois because businesses consume much more energy than homes on average. Businesses basically get a volume discount on electricity since they use so much. Our data shows the average business in Illinois pays 14.49 cents per kWh for electricity and has an average bill of $426.05 per month.
| Rate | Usage | Bill | |
|---|---|---|---|
| Illinois Average | 14.49c | 2,940 kWh | $426.05 |
| United States Average | 12.43c | 5,742 kWh | $713.88 |
Finding ways to reduce overhead costs is essential as a business owner. You have the opportunity to do that in a deregulated electricity market. Even reducing your electricity by one or two cents per kWh can make a huge difference when you have a high monthly bill. Compare commercial electricity rates to find the plan that makes the most sense for your business.
Best commercial electricity plans
Below are the top commercial electricity plans in Illinois.
| Provider | Contract Term | Rate | Plan |
|---|---|---|---|
3 months | 33.11¢ /kWh | ||
3 months | 30.24¢ /kWh | ||
6 months | 39.42¢ /kWh | ||
6 months | 46.50¢ /kWh | ||
6 months | 46.00¢ /kWh | ||
6 months | 50.82¢ /kWh | ||
6 months | 51.29¢ /kWh | ||
12 months | 45.89¢ /kWh | ||
12 months | 41.87¢ /kWh | ||
12 months | 46.50¢ /kWh | ||
12 months | 46.89¢ /kWh | ||
9 months | 42.20¢ /kWh | ||
9 months | 46.50¢ /kWh | ||
12 months | 46.00¢ /kWh | ||
9 months | 46.00¢ /kWh | ||
18 months | 43.81¢ /kWh | ||
18 months | 46.50¢ /kWh | ||
18 months | 53.92¢ /kWh | ||
18 months | 53.12¢ /kWh | ||
18 months | 46.00¢ /kWh | ||
| See All Plans | |||
How to switch Illinois electricity companies
Wondering how to make the switch to a new electricity provider in Illinois? The process is straightforward and won't disrupt your service.
First, review your current agreement's terms, then select either a new Retail Electric Supplier (ARES) or return to utility providers like ComEd or Ameren.
Key steps to switch providers:
- Compare rates among certified suppliers through the Illinois Commerce Commission
- Choose your preferred supplier and plan
- Let the new supplier handle the transfer process
- Wait for the change to take effect on your next meter reading
You won't need any home visits, and your electricity service will continue uninterrupted throughout the switch.
When is the best time to switch energy providers in Illinois?
Determining the ideal time to switch energy providers in Illinois requires careful consideration of market trends and seasonal price fluctuations.
You'll want to review your current rates during spring and fall when energy prices typically stabilize between peak seasons.
Before making a switch, you should:
- Compare your utility's "Price-to-Compare" with alternative supplier rates
- Review the Illinois Power Agency's procurement plans for upcoming price trends
- Evaluate whether long-term contracts align with current market conditions
Remember that regulated utilities often provide the most stable rates year-round.
How deregulated electricity works in Illinois
Since Illinois deregulated its electricity market in 1997, you've had the power to choose your electricity provider from multiple Alternative Retail Electric Suppliers (ARES).
The system works through a split structure where utilities like ComEd and Ameren Illinois maintain the power lines while ARES compete to sell you electricity.
You'll receive two main services:
- Delivery (from your utility company)
- Supply (from your chosen ARES or utility)
The Illinois Commerce Commission oversees the market to guarantee fair competition, while the Illinois Power Agency helps secure competitive rates.
You can choose between fixed rates, variable rates, or green energy options through municipal aggregation programs.
Types of electricity plans in Illinois
Illinois offers four main types of plans that cater to different needs and preferences.
Fixed-rate plans provide stable pricing throughout your contract term, typically lasting 12-36 months. While you'll pay early termination fees for canceling, you'll enjoy predictable monthly bills.
Variable-rate plans adjust monthly based on market conditions. You won't face termination fees, but rates can spike during high-demand periods.
No-deposit and prepaid plans offer flexibility in payment structure. You can either start service without an upfront deposit or pay in advance.
Green energy plans support renewable sources through RECs, though they may cost slightly more than traditional options.
Compare Illinois electricity rates
Compare Illinois electricity rates to save money and avoid overpaying in the deregulated market. Your bill can vary greatly depending on the provider and plan structure. Take the time to read the fine print and do the math to figure out which is your best option.
Illinois electricity rates vs other states
Electricity rates for the biggest cities in Illinois
Illinois electricity rate FAQs
In Illinois, a good electricity rate falls between 16 cents to 18 cents per kWh. Tired of high bills? Shop during spring and fall to lock in lower prices before HVAC use spikes in the summer or winter.
Illinois electricity rates currently average 17.04 cents per kWh, but you'll likely pay between 15 to 19 cents depending on your provider, location, and plan type.
Electricity prices in Illinois rise because of approved utility rate hikes and infrastructure costs. You'll face steeper bills as companies implement increases, while capacity charges and renewable transitions drive costs even higher.
Electricity rates fluctuate due to energy demand, fuel costs, grid infrastructure, and regulatory policies. While short-term declines may occur, long-term trends often show increases due to inflation, grid modernization, and shifts to renewable energy.