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In 2019, the average Cleveland, Ohio electricity rate was 10.64 ¢/kWh (cents per kilowatt-hour). Currently, the lowest rate available to EnergyBot customers in Cleveland is 4.7 cents per kilowatt-hour.
Energy facts for Ohio from the U.S. Energy Information Administration:
In 1999, Ohio deregulated the state’s electricity market giving Ohio based businesses energy choice – also known as 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 businesses of all sizes to compare energy plans from top energy suppliers and shop for the best available rates.
In most cases, Ohio businesses that take advantage of the competitive market can more effectively manage their monthly electricity costs by switching energy providers, plans and rates, at the end of their respective contracts.
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.
If you are a business in the deregulated energy market of Cleveland, Ohio, you now have energy choice, otherwise known as the ability to choose your electricity supplier and your energy rate. Deregulation ushered in competition as energy suppliers were forced compete for customers. To remain competitive, they had to become more efficient to offer business energy plans with more competitive energy rates.
Even though you have energy choice, it can still be a daunting task. Each zip code in Cleveland may offer a commercial customer a choice of hundreds of different energy plans from over 25 different energy suppliers. And although the intended result of deregulation was to lower prices for small businesses, medium businesses and larger enterprise level businesses, it’s not that simple. In many cases, comparing energy plan is still confusing due to the sheer number of plans available, promotional rates that are not apples-to-apples, and the legal fine print that details fees and penalties.
Commercial energy customers can maintain control over the process by reviewing their monthly usage and average monthly electricity bill. A good rule of thumb is to track the monthly energy usage and the total monthly bill.
If your average business electricity bill is under $500 per month, then you can get a very good energy rate for your business through a simple online comparison of energy rates. You can compare rates and sign up for a plan online at EnergyBot.
If your average commercial electricity bill is over $500 per month, then you will most likely get a more competitive energy rate through the custom energy quote process. The custom process is exactly that – by providing basic business information, energy usage and submitting a recent electricity bill – EnergyBot can leverage partnerships with suppliers to work on your behalf and secure the best energy rate for your business. Although it will take more time to complete, the custom quote process may deliver a lower energy rate that will add up to big savings for your business. Get a custom quote at EnergyBot.
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.
Cleveland is a major city in the state of Ohio, with a growing population of 388,072, making it the 2nd largest city in Ohio and the 51st largest city in the U.S. The overall Greater Cleveland area has a population of 2.1 million, which ranks it as the 32nd largest metropolitan area in the U.S. With its location near the Great Lakes, Cleveland serves as a geographical collecting point, from the Midwest into the Northeast. It’s location also cements the city’s position as a major manufacturing and commercial center. Yet, Cleveland's economy is driven by a number of distinct industries including financial services, biomedical, and healthcare – with health and medical fields being the region’s largest employers. Although eight Fortune 500 companies call Cleveland headquarters, Cleveland may be best known for its beloved Browns, the famous Cleveland Clinic and the home of the Rock and Roll Hall of Fame.
According to the SBA, there are over 928,000 small businesses in the state of Ohio employing 2.1 million workers. Small businesses make up a staggering 98% of all Ohio based businesses yet employ less than half of all private employees at 46%. Companies based in the service, professional and retail industries continue to be the dominant employers in Ohio. More specifically, health care and manufacturing are the leading Ohio based sectors with nearly 2 million workers on their rosters.
In a competitive electricity market like Cleveland, Ohio, both commercial and residential customers have energy choice otherwise known as the ability to select a specific energy supplier, plan and rate, and then switch – based on any existing contract terms, renewal dates and fees. If your current contract is expiring, and it’s time to switch to a new energy plan, here are 5 easy steps to keep in mind:
This is the easy part and it starts online. Today, businesses 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 simple website like EnergyBot. In less than 5 minutes, you can enter basic information about your business, like your zip code and monthly electricity bill, and then compare dozens of top energy suppliers in Cleveland 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 for your business. Your energy bill has your business information as well as the data that outlines your monthly energy usage.
To add, your new energy supplier will require proof of your energy usage before you can switch and your electricity bill is the easiest way to meet the requirement.
If you own or manage a larger business with high energy usage (and higher monthly bill), then it may be beneficial to request a custom pricing quote. As a larger business 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.
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.
As a Cleveland business owner, it is important to understand that PUCO is also synonymous with the “Apples-to-Apples” 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 Cleveland, Ohio are AEP and Ohio Edison and are responsible for transporting electricity from the generators to residential homes and businesses in the city.
Energy providers in Cleveland like Direct Energy and Constellation. 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, gives Ohio business owners the opportunity to select their energy supplier. Ohio has been a deregulated market since Senate Bill 3 passed in July 1999 with the law taking effect in Ohio on January 1, 2001.
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 a Cleveland, 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, a fixed-rate plan will 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.