Energy Harbor, formerly known as FirstEnergy Solutions, has been serving retail electricity customers since 1997. They are a financially secure independent power producer and fully integrated retail energy provider focused on safe and best-in-class operations and financial performance. With its fleet of reliable generating resources, including substantial carbon-free generation, Energy Harbor is well positioned for long-term value creation and competitiveness in a low-carbon future and is focused on enabling a growing customer and stakeholder base to meet their environmental, social and sustainability goals.
Learn how you get more value when you shop Chicago electricity plans that outlast the ComED PTC rate.
If your resolution this new year is to save money, then we've got just the thing for you. Shopping for electricity is a sneaky way to save over time. And by shopping for a provider, you can avoid those seasonally changing ComEd PTC rates. So let's shop four Chicago electricity plans with affordable rates that'll save you money.
Why Pick a Plan Higher than the PTC Rate?
Right now, electric rates in Illinois are well below the yearly national average. The current ComEd PTC rate is a bit lower than some of these plans we’ll get into. However, the ComEd rate expires on May 31st. And by then summer weather will start driving up energy demand and 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 can always leave your contract if rates fall again and you find a better deal.
Get Rewarded for Saving Money on Electricity
To compare these plans, we'll be using the average monthly electricity useage for Chicago. Which ComEd states is about 800 kWh a month.
To begin, we have two plans from Xoom Energy.Xoom Energy has a 3.0 rating from us, which is considered good.
The SureLock 24 plan is a 24 month fixed rate plan with a rate of only 6.59 cents per kWh. You could save $2 a month, or $24 a year.
Next , the Surelock 12 plan is a 12 month fixed plan with a rate of only 6.69 cents per kWh. You also could save about $2 a month, or $24 a year.
Both of these plans have a $4.99 monthly charge to be aware of. And before the end of your contract, you'll receive a letter stating what rate it'll automatically renew to if you do not cancel.
In addition, you can 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.
Shop for Electricity with No Monthly Fees
Next, we have Santanna Energy Services and their Fixed Rate Electricity 12 plan. At 7.54 cents per kWh you can expect to spend about $60 a month on electricity, or $720 in a year. But there are no monthly fees or charges to be aware of. And the company has several great customer reviews. Before the contract ends, you'll receive a notice stating that the agreement will renew at a new fixed rate if you do not cancel.
Shop with a Highly Rated Provider
Finally we have Energy Harbor and their Safe Harbor 12 plan. At 8.68 cents per kWh you can expect to spend about $69 a month on electricity, or $828 in a year. But there are no monthly fees or charges to be aware of. And as a 4.1 star rated provider, with excellent customer reviews, you know you'll be happy with your service.
Before the contract ends, you'll receive a notice stating that the agreement will renew at a new fixed rate if you do not cancel.
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. Remember that there are other options for longer or shorter terms that you can shop right now. You can read reviews, shop rates, and more all in one place. Don't wait and miss out on savings. Visit https://www.ilenergyratings.com.
While shopping for an electricity plan in Springfield can seem like a hassle, we make it easy! check out these insider tips, customer reviews, and compare electricity rates in Springfield, IL.
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/
