Compare Chicago Electric Rates & Prices

Residents of Chicago’s deregulated energy market work with both electric suppliers and utility companies. Electric suppliers — which are also called energy providers, electricity companies, or power companies — sell electricity plans to consumers, while utilities deliver electricity to Chicago homes and businesses.

Energy suppliers

An energy supplier’s main role is to sell electric plans to residential and business consumers. These companies also manage customer account details, accept payments, and track electricity usage. Here are a few examples of energy suppliers that serve the Chicago area:

• Constellation Energy
• Direct Energy
• Public Power
• Smart Energy

Utility companies

Utilities deliver power to homes and businesses within their service areas, maintain and repair electrical lines, and respond to power outages. If you choose, you can buy electricity directly from your local utility company instead of a separate electric company. Commonwealth Edison, also known as ComEd, is Chicago’s utility. In the event of a power outage or other electrical emergency, you’ll need to contact ComEd:

• Call 1-800-334-7661
• Report an outage online

Before you start exploring Chicago electricity rates, it helps to understand the baseline rate in your area. The best way to do this is by checking your utility company’s default rate — also known as its price to compare (PTC). This is the rate you’ll pay if you purchase power directly from the utility. You can then use that number to compare rates from alternate electric companies. ComEd’s current PTC is 6.55 cents per kilowatt-hour (kWh), and that price is valid through May 31, 2025.

• Fixed-rate plans: If you’re looking for long-term stability and predictable energy costs, a fixed-rate plan may be right for you. You’ll sign a contract with your electricity company, which usually lasts 12 to 36 months. During that time, your rate will remain the same. But if you end your contract early, you’ll likely have to pay an early termination fee (ETF).
• Variable-rate plans: If you want more flexibility, consider a variable-rate plan. These month-to-month agreements let you cancel or switch providers at any time without facing an ETF. However, your rate isn’t guaranteed and can fluctuate along with the market price of electricity.
• Prepaid and no-deposit plans: Power companies often require deposits from customers who don’t meet their credit thresholds. If you’d like to avoid putting this initial fee, look for a no-deposit plan, or a prepaid plan. These let you pay for your electricity in advance and reload your account when funds get low.
• Renewable energy plans: In Illinois, renewable resources (like wind and solar) generate 14% of the state’s power, according to the latest data from the Energy Information Administration (EIA). This makes it easy for Chicagoans to find green energy plans. To explore renewable options near you, enter your ZIP code on this page and filter the results for green energy.

Business owners in Chicago can also pick their own electricity company, and there are several companies that offer commercial energy plans. If you own a company in the Windy City, take the time to browse rates and compare cheap energy plans before signing up with a new provider.

Deregulation gives you a great deal of choice, but navigating all of your options can be overwhelming. Choose Energy makes it easy to compare rates from multiple Chicago electric companies and sign up with a new provider. Here’s how to use our marketplace to find the perfect plan for your needs:

• Enter your ZIP code: Once you’ve provided your ZIP code on Choose Energy, you’ll get a list of current Chicago electric rates from today’s best electricity suppliers.
• Compare rates and plans: Use the filters to find plans that match your specific criteria. You can filter by provider, price, green energy, no-deposit plans, and more.
• Sign up in minutes: When you’re ready, you can sign up online in just a few minutes. Alternatively, you can call the number on your screen to sign up over the phone with one of our energy experts. From there, you can sit back as your new provider handles the service transfer.

Whether you’re moving to the Windy City or simply looking to switch energy providers in Chicago, Choose Energy can help. By comparing rates on our marketplace, you’ll be sure to find the best deals in your area. To get started, submit your ZIP code on this page today.

What’s the best energy provider in Chicago?

There are many reliable energy providers in Chicago, so the best one will depend on your individual needs. For example, if green energy is important to you, then a renewable provider like Smart Energy might be a good fit. But if your priority is securing a long-term contract with a fixed rate, consider a provider like Public Power, which has 24-month plans available on Choose Energy.

What happens if I don’t buy from a supplier?

If you don’t pick a supplier in Chicago, you’ll purchase your power from ComEd, the local utility company. You’ll receive the utility’s default rate and make payments directly to ComEd.

How can I lower my utility bill in Chicago?

One way to lower your utility bill in Chicago is by reducing your energy consumption. You can do this by using your HVAC system less often and performing regular maintenance on it, sealing drafty windows and doors, installing a smart thermostat, and taking shorter showers. You can also try switching energy suppliers to lock in a cheaper rate.