EnergyBot rates are updated in real time. Partners don’t influence our content, but we may mention their plans. How we make money.
|
Provider
|
Term Length
|
Rate at 1,000kWh
|
|---|---|---|
|
4 months
|
9.00¢
|
|
|
9 months
|
10.00¢
|
|
|
12 months
|
11.53¢
|
|
Provider
|
Term Length
|
Rate
|
|---|---|---|
|
6 months
|
9.71¢
|
|
|
6 months
|
10.49¢
|
|
|
6 months
|
11.42¢
|
|
|
6 months
|
11.67¢
|
Source: EnergyBot (updated daily)
Illinois electricity deregulation began in 1997, giving Chicago based businesses the power to choose their electricity provider. The deregulated market opened energy supplier up to competition- forcing them to be more efficient as it relates to both service and price. Residents and businesses can compare energy plans from top energy suppliers and shop for the best available rates.
EnergyBot makes it easy to take advantage of the competitive market can more effectively manage their monthly electricity costs by switching energy providers, plans and rates, as needed.
The Illinois Commerce Commission, known as ICC, is the public utilities commission of the U.S. state of Illinois, charged with the regulation of utility service providers, including electricity, natural gas, telecommunications, and transportation. ICC was created to assure the residents of Illinois have adequate, efficient, reliable, and safe public utility services at a fair price.
In doing so, the ICC impacts every business in Chicago – as it regulates all providers of utility services, including electric and natural gas companies, local and long-distance telephone companies, water and wastewater companies, rail and trucking companies. ICC is responsible for promoting the development of an effective, competitive energy market.
As a Chicago business owner, it is important to understand that the ICC is also synonymous with the “Plug In Illinois” energy comparison charts.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utilities in Chicago are Commonwealth Edison and Ameren. They are responsible for transporting electricity from the generators to residential homes and businesses in this specific region.
Energy providers in Illinois, like Direct Energy and Public Power are the competitive energy retailers. Each energy provider buys energy from the wholesale market (the generators) and then re-sells it to consumers (homeowners, renters, and businesses).
In most cases, the consumer, the homeowner, renter, or business, signs a contract with an energy provider for a specific energy plan. The basic energy plan details the rate class, the energy rate per kWh, the contract term length (6, 12, 24, 36 months), and other contract terms like cancellation fee policy.
Energy choice, also known as energy market deregulation, allows Chicago business owners to select their energy supplier. Chicago has been a deregulated market since May 1, 2002.
In 7 years of working to demystify the energy industry, EnergyBot has helped over 100,000 customers. Whether you're looking to find the cheapest electricity rate, a stable contract that fits your budget, or plan for unique energy needs, we’ve been there to help. And we've gotten pretty darn good at it, with over 2,000 5-star reviews and millions in savings for our customers.
By pulling real energy usage data and sharing expert insights directly with you, we're empowering you to take control of your electricity bill. Whether that means cutting your monthly bill, improving energy efficiency, or both — we're always here to help.
Most importantly, we're here to help you save money. Not to sell you something you don’t need. We're paid a small commission fee by electricity providers when you sign a contract — not out of your rate. That means we can help you make the best energy decision for your home or business without taking a dime from your wallet.
