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Illinois electricity deregulation began in 1997, giving Naperville based businesses the power to choose their electricity provider. The deregulated market opened energy supplier up to competition- forcing them to be more efficient as it relates to both service and price. Businesses of all sizes can compare energy plans from top energy suppliers and shop for the best available rates.
In most cases, Naperville businesses that take advantage of the competitive market can more effectively manage their monthly electricity costs by switching energy providers, plans and rates, as needed.
The Illinois Commerce Commission, known as ICC, is the public utilities commission of the U.S. state of Illinois, charged with the regulation of utility service providers, including electricity, natural gas, telecommunications, and transportation. ICC was created to assure the residents of Illinois have adequate, efficient, reliable, and safe public utility services at a fair price.
In doing so, the ICC impacts every business in Naperville – as it regulates all providers of utility services, including electric and natural gas companies, local and long-distance telephone companies, water and wastewater companies, rail and trucking companies. ICC is responsible for promoting the development of an effective, competitive energy market.
As a Naperville business owner, it is important to understand that the ICC is also synonymous with the “Plug In Illinois” energy comparison charts.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utilities in Naperville are Commonwealth Edison and Ameren. They are responsible for transporting electricity from the generators to residential homes and businesses in this specific region.
Energy providers in Illinois, like Champion Energy and Constellation Energy 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.
Energy choice, also known as energy market deregulation, allows Naperville business owners to select their energy supplier. Naperville has been a deregulated market since May 1, 2002.
Naperville is one of the largest cities in Illinois, located about 30 miles west of Chicago. The city was first settled by Captain Joseph Naper and his brother John in 1831 and officially became incorporated in 1890. With a population of more than 147,682 as of 2017, Naperville is recognized as the wealthiest city in the Midwest (11th wealthiest in the nation). This rural community is home to many popular retailers, restaurants and shopping centers.
Illinois small businesses employed 2.4 million people and grew by 19,000 net new jobs according to the latest SBA Small Business Profile. The 2.4 million employees represent 46.4% of the total employees in Illinois. In total 1.2 million small businesses in Illinois make up 98.2% of the total businesses in the state.
Naperville is located within the Illinois Technology and Research Corridor, which is the home to many Fortune 1000 headquarters or regional centers. It also services several offices, industrial parks, colleges, medical centers, and government centers. Due to its abundance of businesses, the corridor also includes a variety of shopping, dining, lodging, and entertainment amenities.