Find the Best Electricity Rates in Ohio (2024)

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EnergyPricing.com / Electricity Rates / Ohio Electricity Rates

Last Updated: July 11, 2024

Key Points

  • Ohio is a deregulated electricity market meaning you can shop electricity suppliers for a cheaper rate. 
  • The average residential electricity rate in Ohio is 14.94 cents per kWh, based on the latest EIA report in June 2024
  • The average commercial electricity rate in Ohio is 10.35 cents per kWh, based on the latest EIA report in June 2024
  • Compare electric rates and providers with EnergyPricing.com by entering your zip code in on online comparison tool.

Current Best Electricity Rates in Ohio

Weekly Ohio Electricity Rate Trends

Current Avg. Electricity Rates 

12 Month Fixed Rate $0.0784
24 Month Fixed Rate $0.0909
36 Month Fixed Rate $0.1005
These are the weekly Ohio average price trends as of December 6, 2024.

Understanding Ohio's Electric Market

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). 

Average Electric Rates in Ohio vs. National Average

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!

How to Compare Electric Rates in Ohio

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:

  • Click the Get Started Button
    This will direct you to all our available electricity providers in your area.
  • Compare Rates and Providers
    Our easy-to-use interface allows you to compare all the providers and plans effortlessly.
  • Enroll Online
    Once you find the perfect plan, you can enroll online in less that 2 minutes.

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Factors to Consider When Shopping Ohio Electric Suppliers

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.

Best Electric Suppliers in Ohio

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.

Ohio Electric Utility Companies

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 OhioAES OhioDuke Energy OhioOhio EdisonThe Illuminating Company, and Toledo Edison. Click the Get Started Button below to compare rates in these utilities today.  

Types of Electricity Plans in Ohio

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.

Commercial Electric Rates in Ohio

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.

Tips for Lowering Your Electric Bill in Ohio

Looking to save even more on your electric bill in Ohio? Here are a few tips to help you lower your energy consumption and reduce your costs:

Shop for Better Rates - One of the easiest ways to reduce your electricity bill is to shop around for better rates. One option is Apples to Apples Ohio, Ohio PUC's shopping website. However, bear in mind that this site allows any licensed energy supplier to list offers, regardless of their service history or customer complaints. 

In contrast, we pre-screen all our suppliers and energy plans to show you the best options. Unlike the state website, we're here to answer your questions and remind you when it is time to renew. And for business owners who need a customized rate, our online platform connects you directly to suppliers so you can sit back and watch the bids come in.

Practice Energy Efficiency - Simple changes in your daily routine can make a big difference when it comes to energy consumption. Some ways you can practice energy efficiency include turning off lights and electronics when not in use, using LED light bulbs, and adjusting your thermostat to lower temperatures in the winter and raise them in the summer. You can also consider investing in energy-efficient appliances and equipment.

Consider Renewable Energy - As mentioned earlier, choosing a 100% Green Energy Plan is an excellent way to support renewable energy while lowering your carbon footprint. You can also install solar panels on your property, which will not only reduce your electricity bill but also allow you to sell excess energy back to the grid. 

Conclusion

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!

So what are you waiting for? Simply press the Get Started button and start comparing electricity rates today!

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Frequently Asked Questions

Who is EnergyPricing.com?

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

How does EnergyPricing.com make money?

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.

What is energy deregulation in Ohio?

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.

How do I compare electricity rates from different suppliers in Ohio?

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..

What are the benefits of switching electricity suppliers in Ohio?

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.

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