Compare XOOM Energy Plans, and Rates to Save

Summer Electricity Rates are Bringing the Heat

Major utilities in IL are raising PTC rates this summer! And if that wasn't enough, the official summer forecast is calling for another year of recording breaking heat across the US. Which means you could be facing some high energy bills. However, you can shop for cheap summer electricity rates now and save, just in time to relax by the pool! So check out these providers and grab the best electricity rate for you!

Data Centers Driving High Summer Electricity Rates

AI data centers are straining electrical grids in IL. During last summer's capacity auction, PJM, the grid operator ComEd is part of, saw prices spiking due to tight energy supply. Plus, PJM expects another 30 GW of power demand from data centers by 2030. And MISO, the grid operator Ameren is part of, is in a similar situation.

All of this has lead to rising electricity bills in Illinois. This summer, Ameren will be raising their supply rate to 11.326¢/kWh. An astounding 29% increase in energy costs! And ComEd is seeing an 8% increase, with their rates rising to 10.399¢/kWh.

Why Pick a Plan Higher than the PTC Rate?

Right now, electric rates in IL are still below the yearly national average. The current PTC rates are a bit lower than some of these plans we’ll get into. While PTC rates will expire in September, analysts expect electricity rates to continue rising. So, shopping for a 12 month fixed-rate plan now means you’ll lock in the current low rate for the next year. Plus, you may also find some providers offer benefits you can't get with your utility.

Save on High Summer Electricity Rates

Let's go over some providers! There are several great providers in both Ameren and ComEd that offer goodies and benefits that make their plans worth it.

For instance, we have our gold-rated provider Constellation offers Constellation Rewards. This program offers points for every month that you're with the company, and you can use those points towards discounts on everything from travel to dining. In addition, they have monthly cash giveaways and surprise bonuses, And that's all on top of exceptional service. Constellation offers their 8 Month Home Power Plan to ComEd customers for just 11¢/kWh. And their 12 Month Home Power Plan is available in both territories, at 13.3¢/kWh in Ameren and 11.1¢/kWh in ComEd. All with no monthly charges!

Or, if you want to get green energy in ComEd, consider Think Energy. Their Think Clean 12 plan is only 11.5¢/kWh. And this plan is 100% supported by renewable energy credits. That's not something your utility can do!

But if you want the best bang for your buck look no further than Xoom Energy. Their SureLock 12 plan offers competitive pricing in both territories. There is a $4.99 monthly fee to be aware of. But, if you sign with their  XoomXtras rewards program, you can earn points to spend on anything from gift cards to vacation stays that make up for the higher rate.

Shop and Save with IL Energy Ratings

These are just a few of the plans available that can bring you better savings over the long haul. Plus, you get more value than just an electricity plan. So shop and save now to avoid high summer electricity rates! You can read reviews, shop rates, and more all in one place. Visit https://www.ilenergyratings.com.

Find Cheap Fixed Rate Electricity Plans

With PTC rates so low, it can be tempting to stick with ComEd. But those rates will change soon! And with spring in the air, electricity prices are falling. So, now is the perfect time to shop for low priced electricity plans! Let's look at the three cheapest 12 month fixed rate plans in Chicago.

Why Pick a Fixed Rate Higher than the PTC Rate?

Right now, Illinois electric rates are well below the yearly national average. The current ComEd PTC rate is even a bit lower. However, the ComEd PTC rate expires on May 31st. And by then the hot summer weather will start driving up AC demand and your electricity prices.

Shopping for a 12 month fixed-rate plan now means you’ll lock in the current low rate for the next year. And those rising summer PTC rates won’t affect your bills. Plus, without early termination fees, you won't have to pay a penalty if you have to leave the contract early.

Best Fixed Rates for New Customers

To find out how much you can save, let's compare using the EIA average monthly electrical usage of 720 kWh a month.

First, we have a great deal for customers new to Direct Energy. Their Live Brighter 12 plan comes in at only 7.39 cents per kWh, so you’ll only spend an estimated $53.20 a month for your electric supply. In addition there are no monthly fees to worry about. And when you refer a friend to Direct Energy, you both get a $50 gift card! That's not something you can get from ComEd!

Get the Cheapest Fixed Rate Plans with Rewards

Then, we have a supplier with the best rewards program available, Xoom Energy. And they have two great plans on offer!

Their SureLock 12 is only 7.29 cents per kWh, so you'll spend an estimated $52.48 a month for your electricity supply. And if you want clean energy, they also offer the SimpleClean12 plan for only a little bit more. At 7.49 cents per kWh, you can have green energy for an estimated $53.92 a month! Both estimates are before the plans' monthly $4.99 service charge.

With these great rates, can also sign up for the XOOM Energy rewards program, Xoom Extras. Their program helps earn you discounts, gift cards, and brings you more value than just an electricity plan. Does ComEd do that? Nope! This rewards program makes this supplier a personal favorite!

Shop the Cheapest12 Month Plans Now

Make no mistake, these rates won’t stay low for long. Summer months lead to higher electricity use and rising electricity prices. So, be sure to compare providers and rates, read reviews, and save money at https://www.ilenergyratings.com.