Energy Deregulation Has Created Lower Chicago Electricity Rates through Some Providers

By: Jordan Adam

It was back in the late 1990s when the Illinois legislature deregulated the electricity market, and broke up a monopoly that had lasted well over 100 years. Because of that, numerous Chicago electricity providers opened their doors to households and businesses to sell electricity at wholesale and retail rates. Creating a free open market, the competition has been significant, and has provided energy consumers an easy way to benefit from lower monthly utility bills.

It is still possible for energy consumers to purchase their electricity from the local utility company. However, the pricing structure is still regulated by the state. Alternatively, there are other Chicago electricity providers that offer lower rates and better customer service than the traditional large utility companies.

Every Chicago resident and business owner receives a bill for their electricity every month where the charges are broken into two main components. One component is a charge by the supplier, or the provider that is generating the electricity. The other component of the bill is a charge to the distributor, or the company (the local utility company) that is delivering the electricity to the meter.

The process that has been deregulated is the generating of electricity. It is still the responsibility of the local utility company to manage, maintain and remain fully responsible for the physical electric lines and meters. In the event of a power outage, or electricity emergency, it is the local utility company that will handle the situation.

The Lowest Prices

Because deregulation has occurred in Illinois, there are now numerous Chicago electricity providers that offer competitive rates. Some generate their electricity using renewable resources including wind farms, solar panels, and other “green” methods. Most Chicago electricity providers generate power using fossil fuels, much like the local utility company, only at a much lower price.

Even if the household or business is completely satisfied with getting their power from the local utility company they should still consider making the switch to an alternate Chicago electricity provider. They can offer substantial savings every month, and better customer service.

When making the switch to an alternate Chicago electricity provider, there will be no interruption in service, or the need to disconnect the power.

Nevertheless, with the deregulation wind the complete power went in the hand of the consumers who can now choose the utility of their own choice and switch to a new power body whenever they wish to. The selection can be for the low cost or for better service quality or even for both, depending on consumer perspective.

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Energy Deregulation Has Created Lower Chicago Electricity Rates

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