Electricity rates in Ohio are low compared to what most residents and businesses in the U.S. are paying for electricity since the state is nestled in the abundance of cheap electricity sources in the Midwest. Nevertheless, Cleveland residents are able to pay even less on their monthly electricity bills by selecting a retail electricity provider that offers lower electric supply rates than what the default utility, The Illuminating Company is offering.
If you live in Cleveland and are considering making the switch from The Illuminating Co or your current retail electricity provider, learn more below.
Get The Best Cleveland Electricity Rates
Here are featured rates for The Illuminating Company customers in Cleveland.
Find the free Rate Comparison Tool at the top of the page and enter your ZIP Code to see all rates.
How to Compare Electricity Rates in Cleveland
1. Know What You’re Paying for Electricity
The most important thing to know while shopping around is the rate you are currently paying for your electricity supply. You can find this rate on your most recent Illuminating Company electric bill, under “generation charges” or “supply charges”. This rate will be in ‘cents per kilowatt-hour’ (cents/kWh). For a typical residential or small business customer, this rate may appear something like: 500 kWh @ $0.07673. Since you now know your rate, you’re ready to shop around!
2. ElectricityRates.com Will Do the Hard Work for You
If you are looking for a retail electricity provider for your home or small business, start the shopping process by using our free Rate Comparison Tool at the top of this page. You will need to type in your zip code, click “Get Rates”, and then choose The Illuminating Company as your utility. After that, a list of reputable providers and their rates and plans available in the Cleveland area will be presented. You can make the switch here by filling out an online form, but if you just want to shop around for now, feel free.
If you’re looking for an electricity provider for your medium to large business, you’ll find that the shopping process is different than that of shopping around for a home or small business. Businesses shop around by calling several retail electricity providers and then choosing the one that offers the best rate and plan. We can do this for you for FREE. All you need to do is fill out our Business Electricity Contact Form. We’ll call several providers in our network to find the best plan for you. There’s no obligation to switch.
3. Understanding the Features of Different Plans
- Fixed-Rate or Variable-Rate? Fixed-rate plans have one rate that will not change for the duration of your contract with a provider. Variable-rate plans have fluctuating rates that vary along with wholesale electric market prices and are subject to change each month. The choice is yours.
- What Contract Length Should You Choose? Choose a longer contract length if you believe that The Illuminating Company’s default rates will rise in the near future. Choose a shorter term if you believe that the utility’s rates will lower. Contract terms are offered in 3- to 36-month terms. Most customers opt for a 6- to 24- month term.
- Are there Fees to Switch? Some providers may require a small sign-up fee.
- Does the Provider Offer Bonuses or Rewards? There are many providers that offer sign-up bonuses, discounts on HVAC repair and other energy-related services, and many even have rewards programs in which you can earn cash-back, free electricity, airline miles, and more.
- How about Renewable Electricity Plans? If you’re interested, many providers offer partial or 100% green plans in which you can rest assured that your electricity is coming from renewable sources that are much better for your home or business and the environment as a whole.
How to Switch Cleveland Electricity Providers
You can switch electricity providers in minutes by using our free Rate Comparison Tool. Simply enter your ZIP Code at the top of the page and you’ll be presented with great rates from leading providers.
The only real change that you’ll see is a different rate on your bill each month. The Illuminating Company will continue to deliver the electricity to your home or small business with the same reliability as before. They’ll also continue to send your bill, maintain the wires and poles that deliver the electricity to your home or business, and respond to power-related emergencies such as outages and downed power lines.