Find the Best Electricity Rates in Ohio (2024)

Before we dive into comparing suppliers, let's first understand Ohio's electric market. Prior to 1999, Ohio residents could only purchase electricity from their local utility company.

However, with the passing of Senate Bill 3 (SB3) in July 1999, Ohio's energy market was deregulated to allow for consumer choice. This Ohio electric choice law took effect on January 1st, 2001, and gave customers the option to choose from Certified Retail Electric Suppliers (CRES). 

How does the average electricity rate in Ohio stack up against the national average in the US? The most reliable source for this data is the Energy Information Administration (EIA). According to their latest report as of February 2024, below are the average Ohio electricity rates for residential and commercial customers.

• The average Ohio residential electricity rate is 15.74 ¢/kWh (3% lower than the national average).
• The average Ohio commercial electricity rate is 11.14 ¢/kW (12% lower than the national average).

Fun Fact: Did you know that Hawaii has the highest average residential electricity rate in the US? It stands at a whopping 43.53 ¢/kWh!

Finding the best electricity rates in Ohio doesn't have to be overwhelming. With EnergyPricing.com's easy-to-use interface, comparing rates is a breeze!

Compare Ohio Electric Rates in just 3 Easy Steps:

When shopping for energy suppliers in Ohio, it's essential to consider the following factors:

1. Price: Be sure to compare different rates and plans from each provider to find the best options for your needs and budget.
2. Read Customer Reviews:  Many customers will post reviews of their experience with each provider. This can be a great way to get an idea of the customer service and reliability of each company.
3. Company Size: Consider the number of customers a company has. It can indicate their size and stability. A larger customer base means more resources to meet customer demands.
4. Company History: Researching a company's history can help you gauge its reliability. A company with a long history of reliable service is a positive sign of its longevity.
5. Read the Contract: Read the entire agreement carefully before committing yourself to any provider. Look for hidden fees or penalties, cancellation clauses, and contract length.

Finding the best electric suppliers in Ohio can be challenging, but don't worry! The U.S. Energy Information Administration has released a report ranking suppliers based on customer count. According to this report, here are the top 10 electric providers in Ohio:

1. Energy Harbor Corp.- 701,618 customers
2. AEP Energy - 380,159 customers
3. Dynegy Energy East, LLC- 335,518 customers
4. Interstate Gas Supply, Inc.- 228,977 customers
5. Constellation NewEnergy, Inc- 94,304 customers
6. Reliant Energy Northeast LLC- 85,429 customers
7. Direct Energy Services- 61,293 customers
8. Inspire Energy Holdings, LLC- 41,831 customers
9. Commerce Energy, Inc.- 29,519 customers
10. SmartEnergy Holdings, LLC- 25,749 customers

It's important to keep in mind that there are additional options to consider beyond the well-known providers mentioned earlier. Interestingly, some of the most competitive electricity rates in Ohio can be found with emerging suppliers who are eager to gain market share by offering rates that undercut the established players.

While you have the freedom to choose your electric supplier in Ohio, your utility company is assigned based on your physical address. These Ohio electric companies are responsible for maintaining power lines and delivering electricity to your home or business. The 6 major electric utility companies in Ohio are AEP Ohio, AES Ohio, Duke Energy Ohio, Ohio Edison, The Illuminating Company, and Toledo Edison. Click the Get Started Button below to compare rates in these utilities today.  

When choosing an electricity provider in Ohio, you will typically have the option to select from one of these types of plans:

Fixed-Rates Plans -  Fixed-rate plans are the most prevalent type of electricity plan in Ohio. As the name suggests, your rate will be locked in for a set period, usually 12-36 months. This allows you to budget more accurately since your rate won't fluctuate with energy market prices.

Variable-Rate Plans - With a variable-rate plan, your rate will change each month based on market conditions. While these plans may offer lower rates at times, they also come with the risk of higher electricity prices when the market is tight. 

100% Green Energy Plans - If you're someone who cares about the environment and doesn't mind paying a little more for electricity, then a 100% Green Energy Plan could be the perfect choice for you. These renewable energy plans offset your energy usage by purchasing Renewable Energy Credits (RECs), which reflect the generation of renewable energy sources like solar or wind. By choosing this type of plan, you can ensure that your energy consumption is supporting renewable energy projects.

EnergyPricing.com also offers competitive commercial electric rates in Ohio. With our large network of suppliers, we can help businesses find the best rates and plans for their unique energy needs. Whether you're a small business owner or a large corporation, we have options to fit your budget and sustainability goals.

Below are some benefits of using EnergyPricing.com for your next commercial electricity contract.

1. Direct Access to Providers: Our easy-to-use interfaces let you submit your commercial electricity accounts directly to our network of electricity suppliers. Just sit back and watch the bids come in!
2. Transparent Pricing: At EnergyPricing.com, we believe in being 100% transparent with our pricing and will disclose how much electricity providers compensate us. Due to our automated online pricing process, we can offer some of the rates in the market.
3. Expert Advice: Unsure which plan or energy provider to use? No problem. You will have access to an industry expert who can help you.

With all the information and tips provided, you're now equipped to take control of your electricity rates in Ohio. Don't wait any longer - start comparing rates and enrolling in a new plan today with EnergyPricing.com.

Take advantage of our transparent pricing, expert advice, and our large network of energy suppliers to find the best electricity plan for your home or business. Say goodbye to high electricity bills and hello to savings!

EnergyPricing.com is an online marketplace that connects residential and commercial customers in deregulated electricity and natural gas states with energy suppliers.

As a registered electricity and natural gas broker with the Public Utility Commission in each state where we operate, energy suppliers pay us a small referral fee for connecting customers like you with them.

Energy deregulation in Ohio means city residents and businesses can choose from multiple electricity suppliers instead of depending solely on the local utility company. Ohio is one of the states where energy deregulation allows consumers to select an energy supplier and plan that best suits their needs and budget.

Ohio residents can compare electricity rates from different suppliers using our advanced search and compare tool. We provide you with the latest and best plans from energy companies all over the U.S., including the deregulated Ohio energy market. Using our tool, you can see current offers, compare plans, and find information on switching suppliers..

Switching electricity suppliers in Ohio comes with several benefits for the energy consumer. Thanks to the deregulated energy market in Ohio, switching electricity suppliers in Ohio can lead to lower rates, better customer service, and access to renewable energy options. It also allows consumers to find plans that match their energy usage needs.