Compare Ohio Electric Supplier Rates

The local utility companies (AEP, Ohio Edison, Dayton Power & Light, Cleveland Illuminating, Duke Energy, and Toledo Edison) continue to deliver power and send you your monthly electric bill even after you choose a competitive supplier. If you do not choose a supplier, you pay a default rate known as the Price to Compare.

Find out how you can get a cheaper fixed rate for your electricity!

Comparing the Best Electric Rates in Ohio

Ohio Rates ElectricRate.com VS Energy Company by Todd Yasbin

Regulating the energy sector in the state is the Public Utilities Commission of Ohio (PUCO). It also oversees the official state energy comparison website, Energy Choice Ohio.  In it, Ohio residents and businesses can compare the apples-to-apples electricity and gas rates of PUCO-certified suppliers, find useful information about energy deregulation, their rights as electricity customers, and how to read their electric bills. 

The switching process is easy:

• Select if you are shopping for a residential, commercial, or industrial power plan
• Select your state utility
• Compare available electricity rates with the Price to Compare your utility

You can also use the free tool to compare an available fixed rate on our website. We review the majority of suppliers and include useful information about contact information, benefits & drawbacks of available energy plans, and additional perks for customers.

Ohio Energy Market Overview

Ohio deregulated its retail energy sector in 2001, giving its residents the power to choose who will supply their electricity and gas – and for what price. Since then, some 50% of residents switched electric suppliers, which according to research, has generated a staggering $15 billion in saving on Ohio electric bills.

The marketplace competition has also pushed down the average residential electricity rates in Ohio to 12.67 cents per kWh, which is below the US national average. A number of competitive suppliers sprung up around the state, ready to compete for Ohio customers with a good fixed rate,  energy plans, and home power products.

Utility Companies in Ohio

AEP Ohio

AEP Ohio, headquartered in Gahanna, Ohio, operates in the service areas including Chillicothe, Canton, Columbus, and Findlay.

• Customer service numbers: 1-800-672-2231 (residential customers) and 1-888-710-4237 (business customers)
• Current standard Ohio electricity rates:

Dayton Power & Light

DP&L serves the Miami Valley region of West Central Ohio, including the cities of Dayton, Xenia, Kettering, Trotwood, and  Greenville.

• Customer service number: 1-937-331-3900

Duke Energy Ohio

Duke Energy supplies electricity to 840,000 homes and businesses in Cincinnati, Butler, Hamilton, Clermont, Warren, and Brown counties.

• Customer service number: 1-866-216-2136 (residential customers) and 1-800-774-1202 (business customers)
• Current standard Ohio electricity rates in Duke Energy:

Both Ohio Edison and The Illuminating Company sit under the umbrella of First Energy and cover service territories in northern Ohio.

Ohio Edison

• Customer service number: 1-888-544-4877
• Current standard Ohio electricity rates:

The Illuminating Company

• Customer service number: 1-800-589-3101
• Current standard Ohio electricity rates:

Energy Plans & Products in Ohio

Energy plans are like shoes. One size does not fit all. Navigating through complex information about power rates can be confusing and can ultimately deter you from shopping for a better deal. Below is all you need to know about the different energy products that power companies offer to Ohioans:

Fixed Rate Plans 

The electricity prices in Ohio are the most stable with a fixed-rate plan. This is a set-and-forget type of plan. Each new supplier in the area offers these energy plans, as the idea behind them is that if you live in Ohio, you pay a bit more for electricity, but the price is protected/fixed for the whole duration of the contract terms’ length. This is the most beneficial type of energy plan there is, as all the payments will be more or less the same. However, if you spend significantly more or less on electricity, the energy bill will change accordingly. 

This is our recommended type of energy plan, as you will have no bad surprises with it. Unlike a variable rate plan, all the energy bill differences will always come from a different energy use, even years after the contract was signed. This is the best energy plan type and the best way that your electricity provider can deliver electricity to you. The energy bills with almost all other types of plans will show high fluctuations when the energy price changes. Here, you have the peace of mind of knowing that your energy bill depends only on how much energy you have used, and does not fluctuate based on geopolitical events on the other side of the world. 

Variable Rate Plans 

With variable rate plans, on the other hand, you can expect the rates to fall in the spring and the autumn part of the year. During these two periods, you can make significant energy savings, as your energy bills will be much lower. This is the biggest advantage of a fixed rate plan. However, during the summer and the winter, when the prices are determined more by a surplus of energy demand than energy supply, you will be paying much higher rates than during the other two seasons. If you have a variable rate plan now, you may notice that your winter energy bills are disproportionately higher during these months. 

The same goes for the summer, when energy use is much higher, typically because everybody cranks up their HVAC systems to cool down their living space. These fluctuations in energy use lead to fluctuations in energy pricing and is the reason why we never recommend variable-rate plans. These plans are great for saving energy, but the increase in the energy bill during periods of high consumption is one of the factors that can make you spend significantly more money, to the point that you spend more than you would with a more expensive fixed-rate plan. 

Green Energy Plans

Green energy plans, or renewable energy plans, are suitable for all who want electricity coming from a renewable energy source and who care about the climate. These plans usually come at higher prices, but the peace of mind that you will be able to reduce your carbon footprint the easy way and that you will be one step closer to climate neutrality and protecting the environment is worth it more and more every year. Green energy plans are becoming more popular so more companies offer them than ever before. 

As Ohio is a state with plenty of renewable energy potential, the search for a perfect plan may have come to an end. Opting for a plan with green generation is a simple and effective way to help combat the effects of climate change. In most cases, both your household and your business will pay an affordable energy bill. 

Prepaid Plans 

Prepaid energy plans or no deposit plans are intended for all those who move a lot or for students who do not spend the entire year on campus. In this case, the plans enable them to have varied, no-contract access to energy services and they also enable access to energy services to those who prefer: 

• No contract term, 
• No credit check / no credit history check, and 
• No early termination fees. 

These plans exist only in a deregulated market, and the market price for electricity in these plans is a bit higher when compared to other energy plans. However, the peace of mind and the flexibility that these plans offer may well be worth it. 

Business Energy Plans 

Business energy plans or commercial energy plans are available to all moving to or already living in Ohio who would like to start their own business. These plans include special terms and lower prices than residential customers have to pay. These types of business energy plans differ widely from state to state, as well as the electricity rates you have to pay with each of these electricity plan options. Each energy supplier offers them, so you should contact many of them and talk to the sales representative. While there, request a detailed breakdown of the terms and pricing, before making a decision. Pay special attention to all the freebies and additional perks you may receive from an energy plan. 

Renewable Energy Credits 

Renewable energy credits are also available in the state of Ohio. Whatever kind of plan you may choose, these credits are available to all homeowners who would like to install solar panels. A solar system is subject to up to a 30% rebate or credit on your Federal taxes, and they will make the solar investment pay off much faster. Besides these, you should also check out other solar rebates and incentives offered in the state and your local municipality office/utility company. Similar rebates and incentives are available to all who are responsible to the environment and would like to be as efficient as possible. The biggest downside is that you have to make the upfront investment all by yourself. 

Time of Use Tariffs

Besides these rebates, you should also check out time-of-use plans or time-of-use tariffs available in your area. In this case, the energy price can be significantly reduced or even nullified during certain periods of the day or even weekends (usually Friday evening to Monday early morning). These plans may charge a bit extra when compared to others but if you use a lot of energy during the free periods, you may want to consider these plans as they will reduce your electricity rate and will result in a lower energy bill. 

Alternative Energy Solutions in Ohio

What is an Ohioan to do, if he wants to green up? Well, the utilities and energy generation capacity enable access to a lot of renewable generation, all of these are offered at competitive rates and fixed renewable energy plans. This type of clean energy (solar, wind, and hydro) is also available at different plan length options.

Is Switching Providers Worth It? 

Yes, it is. Electric companies in Ohio all try hard to provide the best terms and conditions, as well as the prices of their electrical products. Depending on your usage, and other important factors, such as the early termination fees, you, too, can enjoy every benefit that a regulated market price has to offer. All that is required is your ZIP code, address, and current customer number. 

The supply is plentiful, this is one of the reasons you may want to consider the easiest way to save money in your existing or new home: simply spend a few hours to decide what other Ohio electricity plans would be applicable in your area. Turning to the new electricity company and asking for this plan specifically is important because it will provide you with more details. Pull the information from the Electricrate site (it is always up-to-date), then check all the details by searching, and ask to be switched to the new plan. It is really easy and it takes very little time to reduce your energy bill. 

How to Choose the Right Plan? 

What to Compare when shopping for electricity in Ohio by Todd Yasbin

When choosing the best Ohio energy rates, you should first know what kind of a rate you need to consider: the lowest-priced product is not always the best. Once you have several electricity plans in front of you, compare them with each other and to your energy needs, habits, and your budget. You will be surprised by how much money you can actually save by making the right choice, so do not hesitate to take your time and: 

• Analyze your current energy costs and energy use, 
• Review your current contract and plan, and 
• Compare energy plans. 

Analyze Your Current Costs 

By analyzing your current costs you can ensure that you make the right decision about your new energy plan and the right set of charges that you will be paying with it. Electricity providers in the states offer a three-tier pricing system, whereby each company or household can choose between different tiers based on their energy needs and past energy use. With this in mind, you should first consider analyzing the energy bill you’ve been getting so far, in search of the energy consumption, which is usually displayed in the monthly and yearly spans. 

Review Your Current Contract and Plan 

Once this is done, see how much you pay to the provider and compare this to new electricity providers in the area. This way, you will be able to understand exactly how much you will be paying to the new provider as well, based on your previous energy use. This is the best and the easiest way to understand which plans can work for you and which cannot. The three-tier system is especially useful, as it will allow you to easily compare the energy plans on the Electricrate search page. 

Compare Energy Plans 

Once you know about your energy usage and habits, you should use Electricrate filtering to narrow down the search to several energy plans that may be according to your needs. This will help you choose faster and will remove all the plans that you do not need. If you set up the filters so that you can only see renewable energy, and fixed-rate plans with 3 years of the contract term, this is exactly what you will see. Once you are thinking about just a handful of plans, check out the energy companies offering them and check them out on BBB (Better Business Bureau). 

Getting to Know Your Ohio Electricity Bill 

One of the first steps in choosing the right energy plan for you and your needs is getting to know your current energy bill. If you take your last electricity bill, you will see how much energy you have used in the past month, as well as the past year. The actual energy usage will be reflected on the bill and you will need this information when contacting new energy providers. You will also need your customer number (usually found at the top of your electricity bill), and you will also need to check out the power provider charges (this is what can help you save money), and utility company charges (these you cannot choose, they are always the same, unless you move to a different area). 

Power Provider Charges 

The power provider charges are the charges that are billed to you by your energy provider. These charges include two parts: the fixed rate and the variable rate. The fixed rate is sometimes also called the service rate, and is usually a round charge that stays the same across multiple energy bills. This rate is usually low: $5-10 per month. 

The variable parts depend on how much electricity you have used. These charges are calculated by simply multiplying the energy use by the energy rate you pay. So, assuming you use 550 kWh a month, and pay $0.20 per kilowatt hour, you will be charged $110 for the variable part only. 

Utility Company Charges 

The utility company charges also come in two forms: fixed and variable. The fixed rate is the service rate and is, again, a fixed, round number, usually $5-10 per month. In addition to this, you will also pay the variable part, which is calculated by multiplying every kilowatt-hour of energy you use with the energy rate per kWh that is specific to your area. By understanding these 4 chargers, you will be able to better understand how a new energy provider may help you save, and how you can see whether a low energy rate with a higher fixed cost will actually result in a lower energy bill. 

Factors that Affect Electricity Rates 

When trying to understand how all these rates are different, it helps to take into account the different factors that help energy suppliers form their rates. These rates may be moving or fluctuating several times a day, so it is of crucial importance to understand them and to see exactly how far away events may determine the Ohio electricity plan pricing you pay with different suppliers. Among these factors are: 

• Fuels, 
• Power plant building, operation, and maintenance costs, 
• Local transmission and distribution systems – the grid cost, or utility company cost, 
• Your local area regulations, and 
• The weather conditions, especially with renewable energy. 

Fuels 

Fuels are one of the biggest contributors to your energy bill. Most power plants in the world use coal, natural gas, or oil to power their turbines and produce electricity. However, as the price of these fuels changes in the wholesale market (both the electricity market and natural gas market), so does the price of electricity, and it can change daily. This is a big issue and one of the reasons why the current energy prices have skyrocketed. As the energy crisis is over, and as it stabilizes, it is safe to assume the prices will drop. 

Power Plant Prices 

Power plants are notoriously large and expensive to build. Besides this, they take a lot of manpower, sometimes hundreds of men to run and operate them. Add to this the maintenance staff, regular inspections, cleaning, and waste disposal costs, and you’ve got yourself a high operations and maintenance bill year in and year out. The power plants add all these costs to the energy price that you, as the end consumer, have to pay. This is not a high charge, as the cost is spread over a 40-year period and hundreds of thousands, if not even millions of customers that these plants serve. 

Local Transmission and Distribution Systems 

Once the energy is produced in a power plant, it is delivered to your home via a complex system of power lines and transformers called the grid. The grid is huge, and it has its own operations and maintenance costs. These costs, as well as supply chargers, are charged to you via the monthly light bill. This money goes for operating the grid, getting it back online after snow and ice storms, repairing any broken or downed power poles, and modernizing the grid – your smart meter does not come for free, after all. 

Area Regulations 

The local area regulations influence your electricity bill in other ways, but this time, it is for the betterment of the service and the prices you pay. The local area regulations cap off how much the local energy providers can charge for both the fixed and the variable part of their charges. Connecticut electric rates, for example, are adjusted twice a year, and always with the approval from their regulatory bodies. 

Weather Conditions 

The local weather conditions are also an important factor that can help you better understand your energy bill and why the energy rate can fluctuate so significantly between different providers and times of the year. As spring and autumn come with comfortable temperatures and lower energy use, as well as an increase in energy production due to the higher precipitation rates, the energy prices are lower. This is usually the best time to purchase electricity and sign a new energy contract with your existing or another provider. 

On the other hand, winters and summers bring temperature extremes. These both increase the energy demand, as everybody wants to keep their home at a reasonable temperature, and they also decrease the efficiency of the existing power plants, bringing the energy prices up. 

However, with renewable energy sources, the picture is quite different. Namely, higher winds in the winter and stronger sunshine in the summer generally mean that more electricity can be produced. Likewise, a clear sky produces more solar energy than an overcast one, and turbulent seas provide more tidal energy than calm. 

Energy Providers vs. Utility Companies

So, once you know all these factors, it could be useful to understand the difference between an energy provider and a utility company. A utility company is in charge of maintaining the power lines, and ‘transporting’ the electricity from the generators (power plants), to the end user (you). These companies also maintain the grid and are in charge of fixing and modernizing it. After Senate Bill 3 was passed, the state had to transfer the provider function to the new providers. 

On the other side of the spectrum are the energy providers. These are the companies that you sign your electric contract with and they are the companies that purchase the electricity in the wholesale market to help you get enough power whenever you need it. They are a kind of middle-man that takes away from you all the hassle and the paperwork of purchasing electricity on your own.

FAQs

Below are answers to some of the questions you might have about Ohio electric rates.

Conclusion

If researchers are to be believed, Ohioans have already saved billions of dollars by switching electricity and natural gas suppliers. If you are one of them, well done to you. If you haven’t switched yet, you always have the opportunity to shop around for electricity and select a convenient power plan. Entering your zip code is enough for us to compare available electric rates for your home or business.

Updated on 07-07-23