Table of Contents
- What to know aboout electricity rates in Peotone, Illinois
- Best Peotone, IL electricity rates
- Average cost of electricity in Peotone, Illinois
- Best electricity plans in Peotone
- Business electricity rates in Peotone, Illinois
- Best commercial electricity plans in Peotone
- How to switch Peotone, Illinois electricity companies
- How deregulated electricity works in Peotone
- Types of electricity plans in Peotone, Illinois
- Compare Peotone electricity rates
- Peotone, Illinois electricity rate FAQs
What to know about electricity rates in Peotone, IL
- Peotone residents pay 14.41 cents per kWh while the average national rate is 16.22 cents
- The cheapest electricity rate is 6.34 cents per kWh for Peotone residents
- You can shop rates from 42 available providers in Peotone
Best Peotone, IL electricity rates
In the city of Peotone, you can find electricity rates that range from 6.34 cents to 33.92 cents per kWh. The best electricity plans in Peotone for you depend on how much power you use and when you use it. Comparing companies is the best way to find better rates. Below are some rates from popular electric companies in Peotone.
What is the cheapest electricity company in Peotone, IL?
Provider | Service | Rate (¢/kWh) |
---|---|---|
Homefield Energy | Energy | 5.80 |
Dynegy Energy Services | Energy | 6.69 |
AEP Energy | Energy | 6.76 |
ResCom Energy | Energy | 7.80 |
MC Squared Energy Services | Energy | 8.07 |
CleanSky Energy | Energy | 8.39 |
First Energy | Energy | 8.76 |
Eligo Energy | Energy | 9.54 |
Realgy Energy Services | Energy | 9.79 |
South Bay Energy | Energy | 10.63 |
Because Illinois has a deregulated electricity market, Peotone residents have the flexibility to shop around for a cheaper electricity bill. Many states don’t offer this choice. If you’re looking to reduce your energy bill, consider switching to a different provider or plan. Peotone electricity providers offer different types of plans for residents and businesses to satisfy a range of needs.
Average cost of electricity in Peotone, Illinois
According to our data, the average electricity rate in Peotone is 14.41 cents per kWh. This equates to an average residential bill of $91.30 per month. Our data also shows the average resident in Peotone uses 634 kWh per month. Below, you can see how Peotone's electricity rates compare to the averages in Illinois and the United States.
Rate | Usage | Bill | |
---|---|---|---|
Peotone Average | 14.41¢ | 634 kWh | $91.30 |
Illinois Average | 15.50¢ | 727 kWh | $104.78 |
United States Average | 16.22¢ | 884 kWh | $143.38 |
Since the average price is 14.41 cents per kWh or $91.30 per month for residential electricity, prices lower than these can be considered affordable. Electricity rates in Peotone, Illinois depend on your home size and usage, so the kWh rate is more useful when comparing your rate to the average.
Best electricity plans
We've analyzed the prices, terms, and conditions of popular Peotone electricity plans. Below are our picks for the best residential plans in the state.
Provider | Contract Term | Rate | Plan |
---|---|---|---|
36 months | 7.99¢/kWh | See Plan | |
12 months | 8.19¢/kWh | See Plan | |
18 months | 8.39¢/kWh | See Plan | |
24 months | 8.48¢/kWh | See Plan | |
32 months | 8.68¢/kWh | See Plan | |
36 months | 9.09¢/kWh | See Plan | |
36 months | 9.89¢/kWh | See Plan | |
24 months | 10.09¢/kWh | See Plan | |
24 months | 10.19¢/kWh | See Plan | |
36 months | 10.59¢/kWh | See Plan | |
12 months | 10.69¢/kWh | See Plan | |
36 months | 11.39¢/kWh | See Plan | |
24 months | 11.59¢/kWh | See Plan | |
36 months | 55.9¢/kWh | See Plan | |
12 months | 57.9¢/kWh | See Plan | |
36 months | 57.9¢/kWh | See Plan | |
12 months | 59.9¢/kWh | See Plan | |
36 months | 70.9¢/kWh | See Plan | |
36 months | 72.9¢/kWh | See Plan | |
36 months | 77.9¢/kWh | See Plan | |
36 months | 85.9¢/kWh | See Plan | |
36 months | 87.9¢/kWh | See Plan | |
24 months | 90.9¢/kWh | See Plan | |
24 months | 91.9¢/kWh | See Plan | |
36 months | 92.9¢/kWh | See Plan | |
24 months | $1.06/kWh | See Plan | |
24 months | $1.07/kWh | See Plan | |
See All Plans |
Compare Peotone electricity providers
There are 42 electricity providers in Peotone, IL. While some providers only serve specific areas, you have multiple options for electricity wherever you are. Different providers can offer different specials, plan types, and sales throughout the year. However, always read the fine print of the energy plans you consider to avoid hidden penalties.
Residential Electricity Providers in Peotone
Provider | Service Type | Rate (¢/kWh) | Bill |
---|---|---|---|
Homefield Energy | Energy | 5.80 | $59.62 |
Dynegy Energy Services | Energy | 6.69 | $65.33 |
AEP Energy | Energy | 6.76 | $62.18 |
ResCom Energy | Energy | 7.80 | $9.29 |
MC Squared Energy Services | Energy | 8.07 | $68.42 |
CleanSky Energy | Energy | 8.39 | $166.91 |
First Energy | Energy | 8.76 | $69.63 |
Eligo Energy | Energy | 9.54 | $68.02 |
Realgy Energy Services | Energy | 9.79 | $76.31 |
South Bay Energy | Energy | 10.63 | $60.92 |
Business electricity rates in Peotone, IL
Commercial rates are typically cheaper than residential rates in Peotone, Illinois because businesses consume a lot of energy. This means they get a volume discount on electricity. Think about how much power a corner store might use to run HVAC, refrigeration, security systems, lighting, and computers. It adds up. Our data shows the average business in Peotone pays 10.62 cents per kWh for electricity and has an average bill of $63,322 per month. They also use 5,965 kWh per month, which is a big increase from the residential average of 634 kWh.
Rate | Usage | Bill | |
---|---|---|---|
Peotone Average | 10.62¢ | 5,965 kWh | $633.22 |
Illinois Average | 12.93¢ | 2,964 kWh | $383.21 |
United States Average | 12.14¢ | 5,654 kWh | $686.54 |
Finding ways to reduce overhead costs is essential as a business owner. You have the opportunity to do that in a deregulated electricity market. Even reducing your electricity by one or two cents per kWh can make a huge difference when you have a high monthly bill. Compare commercial electricity rates to find the plan that makes the most sense for your business.
Best commercial electricity plans
Below are the top commercial electricity plans in Peotone, Illinois.
Provider | Contract Term | Rate | Plan |
---|---|---|---|
3 months | 33.11¢/kWh | See Plan | |
3 months | 30.24¢/kWh | See Plan | |
6 months | 39.42¢/kWh | See Plan | |
6 months | 46.50¢/kWh | See Plan | |
6 months | 46.00¢/kWh | See Plan | |
6 months | 50.82¢/kWh | See Plan | |
6 months | 51.29¢/kWh | See Plan | |
12 months | 45.89¢/kWh | See Plan | |
12 months | 41.87¢/kWh | See Plan | |
12 months | 46.50¢/kWh | See Plan | |
12 months | 46.89¢/kWh | See Plan | |
9 months | 42.20¢/kWh | See Plan | |
9 months | 46.50¢/kWh | See Plan | |
12 months | 46.00¢/kWh | See Plan | |
9 months | 46.00¢/kWh | See Plan | |
18 months | 43.81¢/kWh | See Plan | |
18 months | 46.50¢/kWh | See Plan | |
18 months | 53.92¢/kWh | See Plan | |
18 months | 53.12¢/kWh | See Plan | |
18 months | 46.00¢/kWh | See Plan | |
24 months | 54.80¢/kWh | See Plan | |
24 months | 55.14¢/kWh | See Plan | |
24 months | 46.50¢/kWh | See Plan | |
24 months | 45.38¢/kWh | See Plan | |
24 months | 48.10¢/kWh | See Plan | |
36 months | 48.05¢/kWh | See Plan | |
36 months | 55.48¢/kWh | See Plan | |
36 months | 48.88¢/kWh | See Plan | |
36 months | 47.53¢/kWh | See Plan | |
36 months | 51.30¢/kWh | See Plan | |
48 months | 48.88¢/kWh | See Plan | |
48 months | 48.45¢/kWh | See Plan | |
60 months | 48.88¢/kWh | See Plan | |
60 months | 49.00¢/kWh | See Plan | |
48 months | 51.30¢/kWh | See Plan | |
60 months | 51.30¢/kWh | See Plan | |
6 months | 53.80¢/kWh | See Plan | |
12 months | 55.40¢/kWh | See Plan | |
6 months | 70.93¢/kWh | See Plan | |
18 months | 57.30¢/kWh | See Plan | |
60 months | 57.60¢/kWh | See Plan | |
12 months | 66.81¢/kWh | See Plan | |
24 months | 58.40¢/kWh | See Plan | |
18 months | 69.88¢/kWh | See Plan | |
36 months | 60.10¢/kWh | See Plan | |
60 months | 62.59¢/kWh | See Plan | |
48 months | 60.70¢/kWh | See Plan | |
24 months | 62.43¢/kWh | See Plan | |
36 months | 69.82¢/kWh | See Plan | |
48 months | 68.44¢/kWh | See Plan | |
See All Plans |
How to switch your Peotone electricity provider
Wondering how to make the switch to a new electricity provider in Peotone? The process is straightforward and won't disrupt your service.
First, review your current agreement's terms, then select either a new Retail Electric Supplier (ARES) or return to utility providers like ComEd or Ameren.
Key steps to switch providers:
- Compare rates among certified suppliers through the Illinois Commerce Commission
- Choose your preferred supplier and plan
- Let the new supplier handle the transfer process
- Wait for the change to take effect on your next meter reading
You won't need any home visits, and your electricity service will continue uninterrupted throughout the switch.
Best time to switch electric companies in Peotone, Illinois?
Determining the ideal time to switch energy providers in Peotone requires careful consideration of market trends and seasonal price fluctuations.
You'll want to review your current rates during spring and fall when energy prices typically stabilize between peak seasons.
Before making a switch, you should:
- Compare your utility's "Price-to-Compare" with alternative supplier rates
- Review the Illinois Power Agency's procurement plans for upcoming price trends
- Evaluate whether long-term contracts align with current market conditions
Remember that regulated utilities often provide the most stable rates year-round.
Peotone's deregulated electricity market
Since Illinois deregulated its electricity market in 1997, you've had the power to choose your electricity provider from multiple Alternative Retail Electric Suppliers (ARES).
The system works through a split structure where utilities like ComEd and Ameren Illinois maintain the power lines while ARES compete to sell you electricity.
You'll receive two main services:
- Delivery (from your utility company)
- Supply (from your chosen ARES or utility)
The Illinois Commerce Commission oversees the market to guarantee fair competition, while the Illinois Power Agency helps secure competitive rates.
You can choose between fixed rates, variable rates, or green energy options through municipal aggregation programs.
Types of electricity plans in Peotone, IL
Peotone offers four main types of plans that cater to different needs and preferences.
Fixed-rate plans provide stable pricing throughout your contract term, typically lasting 12-36 months. While you'll pay early termination fees for canceling, you'll enjoy predictable monthly bills.
Variable-rate plans adjust monthly based on market conditions. You won't face termination fees, but rates can spike during high-demand periods.
No-deposit and prepaid plans offer flexibility in payment structure. You can either start service without an upfront deposit or pay in advance.
Green energy plans support renewable sources through RECs, though they may cost slightly more than traditional options.
Compare Peotone electricity rates
Compare Peotone electricity rates to save money and avoid overpaying in the deregulated market. Bills can vary greatly, with rates between 6 to 34 cents per kWh across different providers and plan structures. Take the time to read the fine print and do the math to figure out which is your best option.
Electricity rates for cities near Peotone, Illinois
- Manteno, IL electricity rates
- Monee, IL electricity rates
- University Park, IL electricity rates
- Frankfort, IL electricity rates
- Bourbonnais, IL electricity rates
- Bradley, IL electricity rates
- Park Forest, IL electricity rates
- Beecher, IL electricity rates
- Crete, IL electricity rates
- Richton Park, IL electricity rates
Electricity rates for other cities
Peotone, IL electricity rate FAQs
What is a good rate per kWh in Peotone?
In Peotone, Illinois, a good electricity rate falls between 13 cents to 15 cents per kWh. Tired of high bills? Shop during spring and fall to lock in lower prices before HVAC use spikes in the summer or winter.
What are electric rates in Peotone today?
Peotone electricity rates currently average 14.41 cents per kWh, but you'll likely pay between 12 to 16 cents depending on your provider, location, and plan type.
Why is electricity so expensive in Peotone, IL right now?
Electricity prices in Peotone rise because of approved utility rate hikes and infrastructure costs. You'll face steeper bills as companies implement increases, while capacity charges and renewable transitions drive costs even higher.
Will electricity get cheaper in the future?
Electricity rates fluctuate due to energy demand, fuel costs, grid infrastructure, and regulatory policies. While short-term declines may occur, long-term trends often show increases due to inflation, grid modernization, and shifts to renewable energy.