What to know about electricity rates in Ohio
- The average Ohio electricity rate is 16.97 cents per kWh while the average national rate is 16.82 cents
- The cheapest electricity rate is 8.54 cents per kWh for Ohio residents
- Ohio's deregulated electricity market includes 168 providers
Best Ohio electricity rates
Ohio electricity rates range from 8.54 cents to 23.14 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 Ohio.
What is the cheapest electricity company in Ohio?
| Rank | Provider | Service | Rate (c/kWh) | Customers |
|---|---|---|---|---|
| 1 | Dynegy Energy Services | Energy | 6.80 | 354,177 |
| 2 | NextEra Energy | Energy | 7.24 | 352,789 |
| 3 | Current Power & Gas | Energy | 7.61 | 1,937 |
| 4 | Shipley Energy | Energy | 7.69 | 7,896 |
| 5 | ResCom Energy | Energy | 7.80 | 14 |
| 6 | Constellation Energy | Energy | 7.82 | 108,616 |
| 7 | Wellington Electricity | Bundled | 8.33 | 3,246 |
| 8 | Astral Energy | Energy | 8.36 | 22 |
| 9 | New Wave Energy Corporation | Energy | 8.44 | 1,789 |
| 10 | Lodi, Ohio Electric Utility | Bundled | 8.48 | 2,193 |
Because Ohio 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. Ohio electricity providers offer different types of plans for residents and businesses to satisfy a range of needs.
Average cost of electricity in Ohio
According to our data, the average electricity rate in Ohio is 16.97 cents per kWh. This equates to an average residential bill of $153.07 per month. The national average rate is 16.82 cents per kWh, and Ohio ranks as the 33rd lowest priced state in the nation.
| Rate | Usage | Bill | |
|---|---|---|---|
| Ohio Average | 16.97c | 902 kWh | $153.07 |
| United States Average | 16.82c | 875 kWh | $147.24 |
Since the average price is 16.97 cents per kWh or $153.07 per month for residential electricity, prices lower than these can be considered affordable. Electricity rates in Ohio 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 Ohio, 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 Ohio electricity plans. Below are our picks for the best residential plans in the state.
| Provider | Contract Term | Rate | Plan |
|---|---|---|---|
18 months | 6.49¢ /kWh | ||
18 months | 6.59¢ /kWh | ||
24 months | 6.59¢ /kWh | ||
24 months | 6.69¢ /kWh | ||
6 months | 6.79¢ /kWh | ||
18 months | 6.79¢ /kWh | ||
36 months | 6.79¢ /kWh | ||
24 months | 6.89¢ /kWh | ||
36 months | 6.89¢ /kWh | ||
9 months | 6.99¢ /kWh | ||
36 months | 7.09¢ /kWh | ||
18 months | 7.89¢ /kWh | ||
18 months | 7.99¢ /kWh | ||
36 months | 8.19¢ /kWh | ||
18 months | 8.49¢ /kWh | ||
36 months | 8.49¢ /kWh | ||
36 months | 9.19¢ /kWh | ||
36 months | 9.39¢ /kWh | ||
24 months | 9.49¢ /kWh | ||
36 months | 9.49¢ /kWh | ||
| See All Plans | |||
Compare Ohio electricity providers
There are 168 electricity providers in Ohio. 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 Ohio
| Provider | Service Type | Rate (c/kWh) | Rate State Rank | Bill | Bill State Rank |
|---|---|---|---|---|---|
| Dynegy Energy Services | Energy | 6.80 | 1 | $64.17 | 6 |
| NextEra Energy | Energy | 7.24 | 2 | $48.31 | 3 |
| Current Power & Gas | Energy | 7.61 | 3 | $75.74 | 17 |
| Shipley Energy | Energy | 7.69 | 4 | $66.34 | 7 |
| ResCom Energy | Energy | 7.80 | 5 | $18.16 | 1 |
| Constellation Energy | Energy | 7.82 | 6 | $70.31 | 10 |
| Wellington Electricity | Bundled | 8.33 | 7 | $63.93 | 5 |
| Astral Energy | Energy | 8.36 | 8 | $30.27 | 2 |
| New Wave Energy Corporation | Energy | 8.44 | 9 | $86.68 | 32 |
| Lodi, Ohio Electric Utility | Bundled | 8.48 | 10 | $105.51 | 58 |
Showing 10 of 168 providers
Business electricity rates in Ohio
Commercial rates are typically cheaper than residential rates in Ohio 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 Ohio pays 16.28 cents per kWh for electricity and has an average bill of $423.73 per month.
| Rate | Usage | Bill | |
|---|---|---|---|
| Ohio Average | 16.28c | 2,603 kWh | $423.73 |
| 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 Ohio.
| Provider | Contract Term | Rate | Plan |
|---|---|---|---|
3 months | 4.590¢ /kWh | ||
2 months | 4.641¢ /kWh | ||
3 months | 4.724¢ /kWh | ||
3 months | 4.733¢ /kWh | ||
4 months | 4.740¢ /kWh | ||
3 months | 4.747¢ /kWh | ||
2 months | 4.784¢ /kWh | ||
1 months | 4.798¢ /kWh | ||
2 months | 4.807¢ /kWh | ||
2 months | 4.811¢ /kWh | ||
4 months | 4.879¢ /kWh | ||
4 months | 4.895¢ /kWh | ||
4 months | 4.917¢ /kWh | ||
3 months | 4.925¢ /kWh | ||
1 months | 4.974¢ /kWh | ||
1 months | 4.982¢ /kWh | ||
1 months | 4.997¢ /kWh | ||
1 months | 5.002¢ /kWh | ||
2 months | 5.004¢ /kWh | ||
3 months | 5.023¢ /kWh | ||
| See All Plans | |||
How to switch Ohio electricity companies
While Ohio's deregulated electricity market offers considerable flexibility in choosing your power provider, understanding the switching process guarantees you'll make an informed decision that benefits your household.
To switch providers effectively:
- Review your current "Price to Compare" on your utility bill
- Visit PUCO's Apples to Apples chart to compare supplier rates and terms
- Contact your chosen supplier to verify the terms and conditions
- Allow the new supplier to handle enrollment with your utility company
You'll maintain continuous service throughout the conversion, and your utility company will still handle delivery and billing.
When is the best time to switch energy providers in Ohio?
Switching providers at the right time can help you save more money on your energy bill.
Monitor these key timing indicators:
- Switch before summer to avoid peak demand rates
- When supplier rates fall below your utility's "Price to Compare"
- Before announced rate hikes, particularly FirstEnergy's June increases
- During periods of lower auction rates
To maximize your savings, consider switching when:
- Multiple suppliers are offering competitive fixed-rate plans
- Renewable energy investments are driving stable rates
- Infrastructure upgrades are completed in your area
- Time-varying rate plans align with your usage patterns
How deregulated electricity works in Ohio
Three key components form the foundation of Ohio's deregulated electricity market: generation, transmission, and distribution.
This system operates under the PJM Interconnection wholesale market, where power plants compete to sell electricity.
In this deregulated environment, you're free to choose between Competitive Retail Electricity Service (CRES) providers or Standard Service Offer (SSO) providers for your electricity supply.
The market uses locational marginal pricing to manage transmission congestion and encourage infrastructure development.
While studies show mixed results, deregulation has helped Ohio outperform regulated Midwest states in controlling electricity costs, though utilities can still pass certain non-regulated costs to customers.
Types of electricity plans in Ohio
Ohio residents can choose from several distinct electricity plan types, each offering unique advantages and potential trade-offs for consumers' specific needs.
- Fixed-Rate Plans: Lock in a single per-kWh rate for 3-36 months, providing predictable bills but potentially higher costs if market prices drop.
- Variable-Rate Plans: Offer flexibility with no contracts but expose you to market price fluctuations.
- No-Deposit and Prepaid Plans: Eliminate upfront deposits and allow precise budgeting, though rates tend to be higher.
- Renewable Energy Plans: Support green initiatives through wind and solar power, typically at premium rates.
Compare Ohio electricity rates
Compare Ohio 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.
Ohio electricity rates vs other states
Electricity rates for the biggest cities in Ohio
Ohio electricity rate FAQs
In Ohio, 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.
Ohio electricity rates currently average 16.97 cents per kWh, but you'll likely pay between 15 to 19 cents depending on your provider, location, and plan type.
Your Ohio electricity costs are high due to rising natural gas prices, expensive grid maintenance, and seasonal demand spikes. Customers pay more because utilities pass these operational costs directly to your monthly bills.
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.