Electric Rates In Parma, OH.

Ohio is one of 16 states with a deregulated energy market, which lets consumers choose their energy suppliers. While suppliers provide energy and determine the rate you pay, your utility distributes this energy and maintains your power systems. In Parma, The Illuminating Company is your utility, but your supplier is up to you.

Energy laws in the state require utilities like The Illuminating Company to provide a Price to Compare (PTC). This rate changes throughout the year. It’s important to take the average 12 month rate when reviewing supplier options. You can use this figure when comparing suppliers to decide if they’re offering a reasonable rate.

When you’re ready to find a new supplier, you need to decide what type of rate you’re looking for. Fixed rates stay the same throughout your contract, and variable rates fluctuate as the energy market changes. Ohio also has a rate type called block and index. In this arrangement, you pay a fixed rate for a set amount of usage and change to a variable rate above that measurement.

It’s also wise to determine your current contract’s end date. Avoid cancellation fees and start service with a new supplier after your agreement ends.