Electric Rates in Illinois

Popular Illinois Electric Rate Plans

Plan NamePlan LengthRate

Illinois Eletric rate history

Source Wolfram Alpha

A major question point when considering whether or not switch electricity providers is "What will happen to electric rates?" This can be a tricky question to answer as rates are continously in flux. In the short-term it's impossible to know exactly what will happen to rates but when looking at a longer term picture things become a bit clearer. Based on the graph above, electric rates in Illinois have generally been increase over the past decade. Assuming this trend continues, the best way to protect yourself from increasing rates is to switch into a 12 month or 24 month plan and lock into a low rate.

Source Wolfram Alpha

In this chart, we see Illinois electric rates compared to electric rates for the entire United States. Some basic findings:

  • From 2006-2007, there was a significant gap in prices, and the cost of Illinois electricity was significantly less than the rest of the US.
  • In more recent years, electricity rates in Illinois have aligned with the national average.
  • Rates for both Illinois and the US overall have been trending upward for the past 10 years.
  • There are short-term cyclical periods of lower rates, but in general, rates continue to rise.
If these trends persist, a great way to avoid being exposed to rate increases is to switch electricity suppliers and lock into a low rate electric plan.

Learn about electricity suppliers in Illinois.