Illinois Energy Rates and the Deregulated Electricity Market

In a deregulated electricity market such as the one in Illinois, incumbent utility companies now compete with alternative suppliers offering competitive Illinois energy rates. For a long time, the previously monopolized electricity industry gives consumers very little freedom to choose energy options. Now consumers living in Illinois have the power to choose their electricity provider and compare electricity rates.

This changed with the advent of the deregulated market as the industry made way for more competition, particularly in the aspect of power generation. Your electricity service is basically made up of three components: generation, transmission and distribution. The transmission and distribution section is still handled by your local utility company that’s why there will be no disruption of services when you switch providers. The generation part is where the competition is and is where you can get competitive Illinois energy rates.

Basically, energy deregulation in Illinois means the source of your electricity is the one that changes and not your actually utility. Choosing which company your will get your electricity from will determine the Illinois energy rates that you have to pay as the generation costs forms a greater percentage of your electric bill. Every consumer in a deregulated market such as in Illinois has the right to choose who their electricity supplier is as long as they are licensed to operate as a Retail Electric Supplier or RES.

To make the selection process as easy and manageable as possible, consumers can visit aggregate websites or similar sites with listings that compare Illinois energy rates from various Retail Electric Suppliers in your locality. Whether you are a commercial or residential user, you can use these listings as your basis for selecting the electricity provider that you will be working with. Not only will you benefit from the competitive Illinois energy rates that each of these providers offer, but you can also take advantage of the perks and other additional services these companies offer.