If you’re new to Direct Energy they have a great offer available for you! Their Live Brighter 12 plan offers electricity at a rate of only 8.39 cents per kWh. That’s 13% lower than the current ComEdPTC rate. And to top it off, there’s no extra monthly charges or cancellation fees. For customers interested in trying Direct Energy it’s a great deal.
Save With a Highly Rated Provider
Do you prefer to stick with a tried and true electricity provider? Then check out Constellation. Their 12 Month Home Power plan offers electricity at a fixed-rate of only 9 cents per kWh and no monthly fees. True, their rate is a little higher than the other plans listed here. But, Constellation has the best reviews on our page. Because of this, we highly recommend Constellation.
Get the Best Rates and Rewards
Are you looking for the lowest rates you can find? Or maybe you’re interested in a company with a robust rewards program? Then look no further than Xoom Energy. Currently they have three plans on the market all under the current ComEd PTC rate. And all of them have different benefits.
Simply want the lowest rate available? Check out their SureLock 12 plan. At 8.1 cents per kWh, it’s currently the cheapest 12 month rate available. But maybe you’re interested in green energy? Instead, look into the SimpleClean 12 plan. You can invest in renewable energy while still locking in a low rate of 8.2 cents per kWh. Finally, if you want to get a low rate while also supporting charity, there is the RescueLock 12. It’s the highest rate of the three plans, costing 8.6 cents per kWh. But 5% of your monthly energy charges will get donated to PetSmart Charities.
All of these plans come with a small monthly fee of $4.99. In addition, you can sign up for the XOOM Energy rewards program, Xoom Extras. Their program helps earn you discounts, gift cards, and more.
Natural gas prices are falling, which means lower energy rates for the Amerenservice area are hopefully on the horizon! Unfortunately shopping for an electricity plan in Springfield can seem like a hassle. Don’t spend more money than you have to! Here’s some tips and insider knowledge to help you shop and compare the best Illinois electricity rates!
Know When to Shop electricity rates
Generally electricity rates are controlled by two things- natural gas prices and electricity usage. Because Natural gas powers generators, natural gas prices effect electric rates. On the other hand, usage is seasonal and easy to predict. So when temperatures rise in spring, electricity usage drops. And so do electricity rates. And while lower natural gas prices might reduce electric rates right now, rates will likely be lower still this spring. That's why shopping in the spring can help you secure the best rate.
Get the Plan that Fits You
Now that you know when to shop, it’s time to learn how to compare plans. The cheapest plans in Springfield are the NRG Energy Flex Electric Choice Plan at 11.80¢ / kWh. Following this is the Constellation 36 Month Home Power Plan at 12.69¢ / kWh. Finally we have the Energy Harbor Safe Harbor 9 at 14.24¢ / kWh.
The first thing you want to check is whether your plan has a variable or a fixed rate. Variable rates, much like the Ameren PTC rate, can change from month to month. Variable rate plans may sound affordable, but after the first month your rate can change. However, fixed rates remain the same throughout the contract period.
The next thing to look at is your plan term length; they're typically anywhere from 3 months to 36 months. The longer the contract, the longer you lock in the rate. Of the plans listed NRG has the shortest contract term of 3 months, Energy Harbor 9 months, and Constellation the longest at 36 months.
Finally, check out the incentives and rewards that different Illinois electricity providers might offer. Even if their rate is higher than the current PTC rate, you could save money with customer rewards and discounts. The best way to find out about rewards and incentives is to check out the individual plans terms of service.
Read the Terms of Service
While you’re shopping, make sure to read your terms of service carefully! While providers can no longer charge early termination fees, there are other charges to check for. Some providers will charge a monthly service fee. Others will charge more per kWh if your usage goes higher than a set a level.
You also want to check for what happens when your contract ends. Some will renew automatically at a different rate, usually their variable rate. You can avoid this by keeping tabs on when your contract expires. It’s also a great idea to look at customer reviews. Just remember, people are more inclined to talk about a bad experience than a good one.
Know Where to compare electricity rates
Hopefully with this information you feel ready to save this spring! But where’s the best place to shop for and compare rates? If you want convenient rate comparisons the best place to shop is https://www.ilenergyratings.com/