Toledo Electricity Rates
Last Updated: October 30, 2023
Author: Paul I. Rhoads, CEM, CEP
Paul is the Vice President of EnergyPricing.com. He has over a decade of experience in the energy industry, advising clients on how to get the best electricity rates and providers. In addition to his vast experience, Paul is a Certified Energy Manager (CEM) and Certified Energy Procurement Professional (CEP).
Compare Rates and Find the Best Electric Company in Toledo OH, in 2023!
Choosing an energy plan is a critical decision for a business or homeowner that can significantly impact your wallet. This process is more than just finding the cheapest rate—it's about finding a plan that aligns with your specific needs. This guide will walk you through the entire process, so you can have confidence in selecting your next plan.
- Toledo is in a deregulated energy market, meaning you have the power to switch electricity providers.
- Don't just make a quick decision- compare rates, weigh factors & shop around on EnergyPricing.com
- Learn some tips for lowering your electric bill with energy efficiency and some smart usage habits.
Understanding Toledo's Deregulated Energy Market
Ohio is a deregulated market. This means that Toledo residents have the freedom to select their energy provider. However, this requires them to analyze various providers, plans, and rates in order to select the best options for their energy needs.
Average Toledo Electricity Rates
Electricity prices in Ohio are influenced by a number of factors, such as weather conditions, government policy, and methods of power generation. Below are average rates for residential customers in Toledo for the year to date. To view current prices, simply click the Get Started button below.
- 12-Month Fixed Rate of $0.0763 per kWh
- 24-Month Fixed Rate of $0.0798 per kWh
- 36-Month Fixed Rate of $0.0808 per kWh
Source: This data is based on the average residential electricity rates for fixed-rate plans in Toledo Edison as of October 30, 2023.
Future Toledo Electric Rates Predictions
Predicting future rates in the complex energy market can be a challenging endeavor, primarily due to the market's dynamic and volatile nature. Factors such as geopolitical issues, changes in supply and demand, extreme weather conditions, and regulatory changes can all significantly impact energy prices. However, advancements in data analytics and forecasting models have made it possible to make educated predictions about future energy rates. These tools leverage historical data and current market trends to provide insights into potential future scenarios, although they don't guarantee absolute accuracy. Our most recent futures chart is below.
Source: PJM Western HUB Day-Ahead Peak Average
How to Compare Energy Providers in Toledo Ohio
With over 100 electricity suppliers registered with the PUC, comparison can be a daunting task! Luckily, for you, EnergyPricing.com's easy-to-use interface simplifies this to a three step process:
Step 1: Enter Your Zip Code
This will direct you to all our available electric providers in Toledo, OH.
Step 2: Compare Rates and Suppliers
This is the fun part. Our easy-to-use interface allows you to effortlessly compare rates from multiple suppliers.
Step 3: Enroll Online
Once you find the perfect plan, you can enroll online in less than 2 minutes.
Do you want to see how it works in real-time? Watch the video below.
Factors to Consider When Shopping Electricity Providers in Toledo
Given all the options available, it can be overwhelming to know where to begin. Consider the following factors to find the most optimal plans:
- Price - When it comes to choosing an electric provider, price is definitely a top consideration. But don't be fooled by a promotional energy plan that may seem like a great deal at first glance. That's why it's crucial when you are making a true apples-to-apples comparison that you consider not only the initial price but also any potential hidden fees or rate changes down the line.
- Read customer reviews - To understand a company’s customer service, check out their customer reviews on Google. What are other customers saying about the service they’re getting? Look for red flags like poor communication, unresponsive customer service, and billing issues.
- Company size - It’s also worth checking how many customers a company has. This could be an indication of their size and stability. A larger customer base can mean more resources and better infrastructure to handle customer demands.
- How long have they been in business? - Researching the history of a company can help you form an opinion on how reliable and trustworthy they are. You can find this information on their website or by reading reviews online. A company with a long history of providing reliable service is a good sign that they’re here to stay.
- Lastly, read the contract - Don’t just quickly sign the electricity contract and hope for the best. Make sure you read the entire contract carefully before committing yourself to any provider.
Top Toledo Ohio Electric Companies
Naming the top energy company in Toledo at any specific time is difficult. However, the U.S. Energy Information Administration has recently released a highly informative report that ranks suppliers based on their customer count. According to this reliable source, here are the top 10 energy suppliers in the Toledo region:
- Energy Harbor Corp.- 701,618 customers
- AEP Energy - 380,159 customers
- Dynegy Energy East, LLC- 335,518 customers
- Interstate Gas Supply, Inc.- 228,977 customers
- Constellation NewEnergy, Inc- 94,304 customers
- Reliant Energy Northeast LLC- 85,429 customers
- Direct Energy Services- 61,293 customers
- Inspire Energy Holdings, LLC- 41,831 customers
- Commerce Energy, Inc.- 29,519 customers
- SmartEnergy Holdings, LLC- 25,749 customers
Source: U.S. Energy Information Administration (EIA), 2021 Retail Power Marketers Sales- Total
As a customer in Toledo, it's crucial to know that your choices are not limited to the list above. The energy market is continuously evolving, and new companies are always emerging with more competitive offers that should be considered. We make sure to list the best offers on the market, regardless of the size of the company.
Types of Electricity Plans in Toledo
When shopping for the best electricity plans in Toledo, you'll come across a few different types. Here are some of the most commonly offered types of electricity plans available in the market.
Fixed Rate Electricity Plans
Fixed-rate plans offer one set rate per kilowatt-hour for the entire contract period, providing stability and predictability for your energy costs. A fixed-rate plan is ideal for most residential and commercial customers as it eliminates surprises on your monthly bill and allows you to budget accordingly. This is the most common type of plan on our website.
Variable Rate Electricity Plans
Variable-rate energy plans offer a fluctuating rate per kilowatt-hour based on market conditions, such as weather and volatility. While this type of plan typically offers flexibility in allowing you to switch plans without any additional fees, it also comes with the risk of extreme weather events causing a sudden spike in your energy rate.
100% Green Energy Plans
If you're looking for a green electricity provider in Toledo, OH, then a 100% Green Energy Plan could be the perfect choice for you. However, it's important to note the electricity flowing through your power lines won’t typically come from renewable energy sources.
Instead, with these renewable energy plans, most energy providers simply offset your energy usage by purchasing Renewable Energy Credits (RECs). These RECs reflect the generation of renewable energy from sources like solar or wind. So if you are someone who cares about the environment and is willing to spend a little bit more, then choosing a plan from a green electricity provider in Toledo, OH, is for you.
Promotional Energy Plans
Most electricity consumers are always looking for ways to save money on their energy bills, which is why promotional energy plans have become a popular choice. These plans come in many different forms, from unlimited electricity to lower-rate plans with built-in monthly fees.
However, customers should approach these plans with caution. While they may look appealing, it’s essential to analyze your average kWh usage to determine if the plan will actually save you money. Unfortunately, many of these promotional energy plans end up being more expensive than traditional fixed-rate plans.
Electric Company in Toledo, Ohio
Toledo Edison is the utility company that is responsible for maintaining the powerline and delivering electricity to your home or business in Toledo. Remember, if there is a power outage, contact Toledo Edison, not your electricity supplier.
Tips for Lowering Your Electricity Bill in Toledo
To save money on your upcoming energy bill, follow these 3 basic tips:
Shop for Better Rates
One of the easiest ways to lower your electricity bills is to shop for better rates. At EnergyPricing.com, we strive to always offer the cheapest rates on the market.
We are also here to answer your questions and remind you when it is time to renew, that way you will have a great rate each year.
Energy Efficiency Measures
Consider choosing LED light bulbs, Energy Star-certified appliances like refrigerators, washing machines, and dishwashers, and opt for programmable thermostats. This will not only save you money, but also contribute to a greener and more sustainable future.
Smart Usage Habits
Adopt smart usage habits such as diligently turning off lights and electronics when not in use, sealing air leaks in your home, and opting for fans instead of air conditioning.
Commercial Electric Rates in Toledo, Ohio
As a business owner, choosing the right energy plan is crucial. This decision affects operational expenses and sustainability. It's important to regularly assess energy needs and find the most suitable plan for electricity or natural gas.
Shop for customized commercial electricity rates through the user-friendly online platform EnergyPricing.com. This platform offers various advantages, such as:
- Direct Access to Suppliers: Our easy-to-use interfaces let you submit your commercial electricity accounts directly to our network of energy providers. Just sit back and watch the bids come in!
- Transparent Pricing: At EnergyPricing.com, we believe in being 100% transparent with our pricing and will disclose to you how much electricity providers compensate us. Due to our automated online pricing process, we can offer some of the lowest electricity prices in the market.
- Expert Advice: Unsure of which electricity plan or energy supplier to go with? No problem! You will have access to an EnergyPricing.com expert to help you throughout the entire pricing process.
Ready to Start Pricing? Save Today!
In conclusion, whether you're a homeowner or business operator in Toledo, taking charge of your electricity costs is within your grasp. By understanding the various types of electricity plans, choosing energy-efficient measures, adopting smart usage habits, and utilizing platforms like EnergyPricing.com to find the most optimal rates, you can make significant savings on your energy bills. Don't settle for high electrical expenses; take control and start saving today!
Frequently Asked Questions
Who has the cheapest electricity rates in Toledo?
If you're looking for the cheapest electricity rates in Toledo, look at EnergyPricing.com. Currently, Energy Harbor offers the cheapest electricity rates in Toledo.
Who is the electric utility company that serves Toledo?
Depending on your address, you can rely on Toledo Edison for delivering and maintaining your electricity in Toledo. If there is a power outage, contact them to help you get back up and running.
What is the current average electric rate in Toledo?
Currently, the average 12-Month Fixed Rate in the market for residential customers in Toledo is $0.0763 per kWh. Remember, however, that rates are constantly changing, and you can always shop around to get the best rates on EnergyPricing.com.