Chicago Electricity

The state of Illinois passed the electric choice laws way back in 1997, bringing an end to the regulated full service electricity monopoly that Commonwealth Edison (ComEd) held on to for so long, and brought in a new era of deregulation for the Chicago electricity market. However, for many people in Chicago, the concept of electricity choice or energy deregulation seems like a new or alien entity, and many have overlooked the benefits that their Chicago electricity choice can bring them.

For your better understanding, consumers should know that energy deregulation ushered in a new competitive Chicago electricity market. From the full service monopoly of old, the mass electricity infrastructure was eventually divided into the transmission/distribution side, which remain regulated and under the control of incumbent electricity companies, and the generation side which was passed on to new Chicago electricity retail providers.

The result is a competitive Chicago electricity market which gave consumers the power to select which retail electricity provider they will buy their power from. With many companies competing for market share, many offer Chicago electricity rates that are as much as 17% lower than the default or average price. Consumers who understand this and are aware that they can make the switch will benefit greatly from availing the same services at much lower costs.

Aside from lower Chicago electricity rates, consumers can also shop around and choose a retail electricity provider that offers perks and discounts just for signing up, or provide the opportunity for consumers to earn rewards for keeping their services at a pre-determined length of time. Such rates and opportunities were not even heard of during the monopolized days of Chicago electricity.

Before deciding to make a switch, consumers should study a particular retail electricity provider thoroughly first and look beyond the Chicago electricity rates they are offering. There are review sites available than contains updated listings of electricity providers in a particular locality, allowing consumers to check for prices, service packages and other important info from the company.