Electric rates in Illinois are slightly below national average rates, but residents and businesses in Rockford, IL can save even more on their electric bills by switching to a retail electricity provider that offers a lower electric supply rate than the default utility, Commonwealth Edison (ComEd).
Retail electricity providers are basically third party retailers of electric supply. When customers make the switch and purchase their electricity from a retail provider, all that really changes is a different rate on your monthly electric bill. Since ComEd is a distribution utility, it has no incentive to keep you as a supply customer. If you switch suppliers, ComEd will continue to service and deliver your electricity with the same reliability it always has.
Compare Rockford Electricity Providers
Various retail electricity providers operate in Rockford. Many have lower rates than ComEd, but not all providers are the same. Generally, providers offer a few different plans that have varying features such as contract length, rate structures, and value-adding incentives.
Additionally, medium and large businesses looking for lower rates can fill out our Online Business Rate Form. We’ll contact our network of providers to find the lowest rate for your business. There’s no obligation to make the switch.
Home and small businesses will need to consider the following when comparing providers and their plans:
Types of Rockford Electricity Rates
The supply rate you’re currently paying, either through ComEd or a retail electricity provider (if you’ve switched before), can be found on your most recent ComEd bill. The rate is expressed in cents per kilowatt hour (kWh) and appears under the section, Electricity Supply Services. Your total Price-to-Compare, the rate you’re currently paying, is the sum of the two charges, ‘Electricity Supply Charge’ and ‘Transmission Services Charge’.
Electricity rates are either offered as ‘fixed’ or ‘variable’. With variable-rate plans, you will initially be charged the rate you see offered in the Compare & Switch tool, but this rate is subject to go up or down each month, depending on wholesale electricity prices and other factors. With a fixed-rate plan, you’ll be charged the rate you see for the entire duration of your contract. The choice is yours.
Contract lengths can vary from as little as 3 months to as long as 36 months. Most customers opt for a 6 to 24 month plan.
Energy Source: Renewable v. Traditional Power
If you are interested in powering your home or business with renewable electricity, you’ll find that many providers are offering Green Electricity plans that derive electricity from partial or 100% renewable sources such as wind and solar. You’ll find that these plans are quite affordable as well, with rates often below what you’re currently paying for traditionally-sourced electricity like coal.
Sign-Up Bonuses & Other Incentives
Since retail electricity providers are competing with each other for your business, some offer you other incentives aside from low rates. Sign-on bonuses are quite common, allowing you to save even more for the first month or so with your new provider. Some providers offer membership programs where you can save on energy-related products and services as well as local services that aren’t related to energy. Many providers are even offering rewards programs where you can earn cash-back, free electricity, and points towards travel and dining.
Switch Rockford Electricity Rates
Switching Rockford electricity rates is fast and easy. To sign up through the Compare & Switch tool, just click on your plan of choice and fill out the online form. Have with you a copy of your most recent electric bill so you can give your account information.
Remember, ComEd will continue to deliver your electricity with the same service and reliability as always. All that really changes is a different electricity supply rate on your monthly ComEd bill.