Enter your zip code to compare Ohio electricity rates and find the best plan in minutes.
By Thad Warren
In 1999, Ohio deregulated the state’s electricity market and gave Ohio businesses, homeowners, and renters the ability to choose their electricity provider. The deregulated market forced energy suppliers to be more efficient and to compete for customers – offering an opportunity for Ohio residents to compare energy plans from top energy suppliers and shop for the best available rates.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utilities in Ohio are Cleveland Illuminating Company, AEP Energy, Dayton Power and Light, Duke Energy, Ohio Edison, and Toledo Edison. Each utility is responsible for transporting electricity from the generators to residential homes and businesses in their specific region of Ohio.
Energy providers in Ohio, including Public Power, Entrust, and Direct Energy to name a few, are the competitive energy retailers. Each energy provider buys energy from the wholesale energy market (the generators) and then re-sells it to energy customers (homeowners, renters, and businesses).
In most cases, the customer (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 the cancellation fee policy.
In a competitive electricity market like Ohio, both business and residential customers are provided with energy choice – meaning all customers get to choose their specific energy supplier, plan and rate, and then switch – based on any existing contract terms, renewal dates and fees.
As an Ohio electricity customer, it’s important to track your contract renewal date. When your energy plan is due to renew, it’s a good time to compare electricity rates and then switch to the best rate for your home or business. When switching energy plans, keep these 5 easy steps in mind:
This is the easy part and it starts online. Today, Ohio residents have a variety of online websites and tools to research and compare energy providers, plans, and rates. The best way to compare providers is to use a free price comparison tool like EnergyBot. In less than 5 minutes, you can enter basic information like your zip code and monthly electricity bill, and then compare dozens of top energy suppliers in Ohio to find the lowest energy rate.
When you are comparing electricity plans, it will pay – literally – to take time to review the plan details, contract terms, and legal copy. Energy companies may entice you with a low rate, yet the fine print may reveal that it is a variable rate – which is only applicable if you stay in a specific range of energy (kWh) usage each month. It’s also important to review the contract term, cancellation fees, and out clauses before signing up for a new plan.
It’s important to do your research and if you’re short on time, EnergyBot makes it simple. Check out this article to learn more about the different types of energy plans and rates.
In many cases, the energy supplier, broker or website that you are using to find a new electricity plan will ask you to upload your most recent electricity bill. Although this may feel a bit intrusive, it provides pertinent account information and it’s important to securing the best energy rate available.
If you own or manage a large business with high energy usage (and higher monthly bill), then it may be beneficial to request a custom pricing quote. As businesses may have much higher monthly energy usage or inconsistent energy usage, energy suppliers require a comprehensive review of your business’ energy usage to provide a custom quote on a new plan and rate. At EnergyBot, you can get a custom quote for free.
After authorizing a switch to a new energy provider, you will receive a confirmation email with the plan details and start date. It’s very important to review the plan you authorized and confirm the new start date. The transition to a new supplier will be seamless… you won’t even notice until you get the electricity bill the next month.
Energy suppliers offer two different types of plans for residential and business customers: a fixed-rate plan or a variable-rate plan.
Each type of plan has its respective pros and cons. As an Ohio customer, it’s important to understand the two types of plans before signing up for an electricity plan for your home or business.
The simple definition of a fixed-rate plan is that you are signing a contract with an energy supplier that offers a fixed-rate – meaning that the rate will remain constant for the term of the contract. Regardless of weather, natural events like tornados, or market volatility, your rate will not change. In most cases, fixed-rate plans have a term length of 6, 12, 24, or 36 months.
The simple definition of a variable-rate plan is that you are signing a contract with an energy supplier that offers a variable rate – meaning that the rate may change on a monthly basis based on market factors. Variable-rate plans offer more flexibility but also present more volatility in pricing which may impact your monthly electricity bill.
It is important to audit your energy usage and then select the right plan – a fixed-rate plan or a variable-rate plan – before signing a contract with an energy supplier.
In Ohio's deregulated energy market, consumers have the power to choose their electricity supplier. The "Price to Compare" is the rate your local utility company charges for electricity supply. You can use this rate as a benchmark when comparing offers from other suppliers. If a supplier’s rate is lower than your utility’s Price to Compare, you could save money by switching. To help with this comparison, the Public Utilities Commission of Ohio provides the "Apples to Apples" tool, which lets you easily compare different electricity suppliers' rates, contract lengths, and other details. Regularly checking these options can ensure you're getting the best deal possible.
The Public Utilities Commission of Ohio, known as PUCO, is the public utilities commission of the U.S. state of Ohio, charged with the regulation of utility service providers, including electricity, natural gas, and telecommunications. PUCO was created to assure that all Ohio residents and businesses have adequate, safe and reliable public utility services at a fair price.
In doing so, PUCO impacts every business in Ohio – as it regulates all retail providers of utility services, including electric and natural gas companies, local and long-distance telephone companies, water and wastewater companies, rail and trucking companies. Recently, the PUCO gained responsibility for facilitating competitive utility choices for Ohio consumers. It's important to understand that PUCO is also synonymous with the “Apples-to-Apples” energy comparison charts.
In 2019 Ohio passed House Bill 6 that set standards for the states renewable energy generation. The bill requires that 8.5% of electricity sold by Ohio utilities must be generated by renewable energy sources by 2026.
This bill lowered the required renewable energy generation from 12.5% by 2026, and removed the requirement for the renewable energy standard to continue after 2026.
If you want to choose green energy for your home or business there are several options. You can search for renewable energy plans from various suppliers around Ohio here.
Thinking about moving to Ohio? Known as the Buckeye State, Ohio offers a blend of rich history, vibrant cities, and scenic landscapes. Named after the Ohio River, which means "great river," Ohio is the 7th most populous state in the U.S., with nearly 12 million residents. As a key player in America’s industrial landscape, Ohio ranks as the 3rd largest state for manufacturing, making it an economic powerhouse in the Midwest. Whether you're drawn to the bustling urban life or the peaceful shores of Lake Erie, Ohio’s diverse regions provide something for everyone. From its deep roots in manufacturing to its friendly communities, Ohio is a state that truly has it all.
If you’re moving to Ohio, setting up your electricity service is an important step. With Ohio’s deregulated energy market, you have the flexibility to choose from various electricity providers. Compare energy plans with EnergyBot to find the best option for your new home.
The cheapest energy supplier in Ohio varies based on your location, usage, and plan preferences. Suppliers like AEP Energy, Direct Energy, and Constellation often offer competitive rates. To find the best deal, compare current offers from multiple suppliers using a price comparison tool.
A good price per kWh in Ohio typically falls between 6 and 10 cents, depending on market conditions and your specific plan. Rates can vary, so it’s important to compare offers regularly to ensure you’re getting the best deal.
The best electric supplier in Ohio depends on your needs, including rate preferences, contract length, and renewable energy options. Popular suppliers like AEP Energy and Constellation are known for reliable service and competitive rates. Comparing plans side by side can help you find the one that best fits your needs.
The AEP Ohio electric rate for 2024 will vary based on your specific plan and location. Typically, rates for standard service customers are updated annually and reflect current market conditions. Check AEP Ohio's official website or use a comparison tool for the most accurate rate information.
Ohio electric rates have seen increases due to rising energy costs and regulatory changes. Factors like market demand and energy supply conditions contribute to rate fluctuations. Staying informed about current rates and locking in a fixed-rate plan can help mitigate potential increases.
To get a cheaper electric bill in Ohio, start by comparing rates from different suppliers to find a lower-cost plan. Additionally, consider energy-saving practices like using energy-efficient appliances, adjusting your thermostat, and scheduling an energy audit to identify further savings.
