Compare Illinois ‍electricity rates

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Illinois Electric Rate Map
Electricity Rates
Illinois Electricity Rates
Thad Warren By Thad Warren

Illinois Electricity Prices

Lowest electricity rates in Illinois today:

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24 mo
36 mo

Average Illinois Electric Rates

This section highlights the average Illinois electricity rates for residential and commercial customers.

Last updated July 2024

  • The average Illinois commercial electricity rate is 11.93 ¢/kWh (5% lower than the national average).
  • The average Illinois residential electricity rate is 16.68 ¢/kWh (1% lower than the national average).

Source: Illinois energy data from The U.S. Energy Information Administration (EIA)

Illinois Electric Rates

How much is electricity in Illinois? Rates updated daily

Since Illinois electricity deregulation began in 1997, businesses have the power to choose their electricity provider. For businesses, large and small, the Illinois deregulated market allows you to compare energy plans from top energy suppliers and shop for the best rate. EnergyBot makes it as easy as purchasing a flight online.

For businesses of all sizes – from small businesses to enterprise-level, the Illinois deregulated market has enabled competition.

In most cases, businesses will be able to effectively manage and/or reduce their monthly electricity costs by switching energy plans and providers every year.

Chicago Illinois Skyline at night

Energy Deregulation in Illinois

In 1995 Larry D. Habb, president and chief executive officer of Illinois Power Co., the state’s second largest power company, began the pushing for energy deregulation as method of saving energy and money. Two years later, Illinois lawmakers passed the the Illinois Electric Service Customer Choice and Rate Relief Law of 1997 that kicked off deregulation in Illinois.

What is the difference between a Utility and an Energy Provider?

Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utilities in Illinois include Ameren, Cedar Point Light and Power, Central Illinois Light Company, Commonwealth Edison Company, Electric Energy, Illinois Power Company, and Union Electric Company.  Each utility is responsible for transporting electricity from the generators to residential homes and businesses in their specific region of Illinois. Illinois energy customers can find a full list of Certified Electric Illinois utilities here.

Energy providers in Illinois, like Direct Energy, Entrust, 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.

Illinois renewable energy

Through our trusted partnerships with leading national energy suppliers, EnergyBot can also help businesses switch to a green energy plan and support a more sustainable business practice.

Illinois Small Business Profile

It is estimated that Illinois is home to over 1.2 million small businesses in a wide variety of industries and categories. Small businesses in Illinois make up 98.2% of the total businesses in the state with the remaining 1.8% being large or enterprise level companies.

As of the latest SUSB census, Illinois small businesses employed 2.4 million people in the state, representing 46.4% of the total employees in Illinois.

Key Statistics

  • 1.2 million Small Businesses
  • 2.4 million small business employees - 46.4% of the total workforce
  • Businesses with 100 employees or less have the largest share of small business employment.

Top Small Business Industries in Illinois

  • Health Care and Social Assistance
  • Accommodation and Food Service
  • Manufacturing
  • Professional, Scientific, and Technical Services

See today’s electricity rates for cities in Illinois