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Getting Lower Illinois Electricity Rates by Switching Energy Providers
Submitted by Shopcheapenergy
Sat, 17 Aug 2013
The deregulation of the Illinois energy industry has created an open competitive market where many energy suppliers can offer low Illinois electricity rates. This means that the lower competitive prices can substantially benefit electricity consumers through the simple switch from one energy provider to another.
Before any energy consumer switches their providers, they need to perform a simple evaluation on all of the different available energy packages. First, the consumer needs to identify exactly how much they are currently paying for their energy, per kilowatt hour. This rate can easily be found on any of the past utility bills.
Once the rate has been found, the consumer simply needs to total up the number of kilowatt hours that are consumed every month, for the last 12 months. Multiplying the number of kilowatt hours consumed every year, by the price per kilowatt hour charged by the supplier, indicates exactly how much the total bill would be for one year.
Next, study all the different available Illinois electricity rates from various providers and comparison shop using the information from the consumer's utility bills. These two numbers can help to quickly evaluate exactly which provider is offering the best Illinois electricity rates to meet the needs of the consumer.
Most Illinois electricity rates are based on fixed prices. Usually these fixed rates are offered for a specific term and length of a contract, which can be as short as a few months, or as long as a few years. There is often a cancellation fee, when backing out of the contract before it expires.
When comparing electric prices, it is important to understand that variable rates are also available. Alternatively, energy consumers can purchase electricity at a variable rate, without the need to sign a contract. However, this type of pricing structure is often a fluctuating rate that raises and lowers with specific market conditions that might include higher prices during peak demands for electricity, or the increasing/decreasing costs of fossil fuels needed to generate power. This is based on a floating rate that stays equal to the market, which rises and falls based on a variety of conditions. The consumer should compare electricity rates, when seeking low prices and long-term plans, to save money every month on their utilities.
To switch from one energy provider to another is a simple process. All that is required is to fill out an application. It might also require making a deposit, before the new energy provider can sell power at lower fixed or variable Illinois electricity rates.
Now get lower electricity rates in Illinois by switching to a competitive Illinois electricity provider.
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