How to Save More on Your Chicago Electricity Bill
Posted onDon't Risk a Rising Electricity Bill in Chicago
This summer has been brutal, and it's going to get even hotter and drier. All of this heat can lead to a gruesome electricity bill. And even though PTC rates are low right now, that might change this fall. So how can you save more on your electricity? By shopping for a better electricity plan! Here's a few 12 month plans to consider, so you can avoid increasing PTC rates.
Why Pick a Plan Higher than the PTC Rate?
Right now, electricity rates in Illinois are well below the yearly national average. The current Com Ed PTC rate is about one penny lower than most of these plans we'll get into. However, that rate expires on September 30 and the EIA predicts that natural gas prices will rise this December. Since natural gas powers Illinois electric generation, it will likely drive up PTC electricity rates by the end of the year.
But shopping for a 12 month fixed-rate plan now means you'll lock in the current low rate for the next year, and rising PTC rates won't affect your bills. And without early termination fees, you can always leave your contract if rates fall again and you find a better deal.
Keep Your Electricity Bill Constant with Constellation
Do you want to lock in a low rate with a highly rated electricity provider? Then look no further than the Constellation 12 Month Home Power Plan. At 8.19 cents per kWh, an average monthly supply charge would be about $60 a month. And with no additional monthly fees, that's a price that's hard to beat. Not to mention, Constellation is one of our most highly rated electricity providers.
Electricity Bill Savings with Santanna
Another great electricity plan to check out is the Santanna Energy Services Fixed Rate Electricity 12. At only 7.69 cents per kWh it's one of the cheapest plans currently on the market. The average monthly supply charge comes in around $56 a month. And in addition, Santanna Energy Services offers some robust customer rewards. You earn rewards simply by paying your electriccity bill. And they have occasional giveaways that add even more value to your plan!
Don't Miss Direct Energy
If you haven't used Direct Energy before, they have a great deal for new customers. Their Live Brighter 12 plan is also only 7.69 cents per kWh, making it one of the cheapest on the market. That's about $56 a month on an average electricity bill. Also, Direct Energy offers a program where if you refer friends to them, you both get a $50 visa gift card. If you're new to Direct Energy, definitely consider signing up.
Get Rewards with Xoom Energy
Lastly, we have the lowest rate currently available on the market. The Xoom Energy SureLock 12. At 6.99 cents per kWh, it's the best rate on the market currently. There is a monthly fee of $4.99. But Xoom also has one of the best rewards programs out there, Xoom Xtras. It offers deals and discounts on everything from local shops to hotels and travel. And there are multiple ways you can earn points. If a low rate and great rewards are your priority, this is the pick for you.
Save More with IL Energy Ratings
Now that you're prepared to shop, where do you go to look at plans? You can read reviews, track electricity rates, and more all with IL Energy Ratings. Start saving today at https://www.ilenergyratings.com
© 2023 IL Energy Ratings — Rates as of
