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.