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.
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
Zip Codes with Cheap Santanna Energy Services Rates