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Peoria

Compare Electricity Rates in Peoria

Written by Erin Gobler

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Edited by Caitlin Ritchie

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Last Updated: June 20, 2024

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Compare Peoria electric prices

Peoria is the largest city on the Illinois River and has the third-largest population of any city in Illinois, with over 115,000 residents. With hot, humid summers and freezing cold winters, the availability of affordable energy prices in Peoria is critical for residents and businesses in the state. Luckily, deregulation allows Peoria residents to choose their energy providers from many available options.

Enter your ZIP code above to explore Peoria electricity rates and plans.

Peoria electricity rates

Plan NamePlan LengthRate*
Public Power - Electric 10 Month Standard Fixed Rate10 months$0.084/ kWh
Smart Energy - Green 6 Month Fixed Rate6 months$0.087/ kWh
Smart Energy - Green 12 Month Fixed Rate12 months$0.088/ kWh
Smart Energy - Green 18 Month Fixed Rate18 months$0.089/ kWh
Public Power - Electric 12 Month Standard Fixed Rate12 months$0.091/ kWh
Public Power - Electric 15 Month Standard Fixed Rate15 months$0.093/ kWh
Public Power - Electric 24 Month Standard Fixed Rate24 months$0.097/ kWh
Constellation - 18 Month Home Power Plan18 months$0.105/ kWh
Constellation - 12 Month Home Power Plan12 months$0.107/ kWh
Constellation - 12 Month Green Home Power Plan12 months$0.107/ kWh
Constellation - 6 Month Home Power Plan6 months$0.107/ kWh

Please note: All rates above are accurate as of 7/17/2024, 2:26:29 PM CDT for ZIP Code 61605. Rates may have changed since this date/time. For the most up to date rates in your area, please enter your zip code above.

*All pricing shown in cents per kWh

Peoria utility companies & energy providers

No matter what energy provider you work with, your local utility company will continue to deliver your electricity. They will also maintain the power lines and infrastructure and respond to power outages. In some states, residents can choose to buy electricity through their utility company, but can also switch energy providers to secure a better energy rate or plan.

Ameren Illinois, a subsidiary of Ameren Corporation, is the utility company for Peoria. The company serves more than one million customers in the state. If you experience a power outage in Peoria, you should contact Ameren on their website or by calling 800-755-5000.

While Ameren Illinois will deliver the electricity for all Peoria residents, you can choose the company that actually supplies the energy to power your home. Peoria residents have several options to choose from, including Public Power, Constellation Energy, and Clearview Energy, with rates as low as 6.9 cents per kWh.

Types of rates and plans in Peoria

Not only can you choose your own energy provider in Peoria, but you can also choose the type of plan you want. Below you can learn more about the different types of plans to help you choose the best plan for you:

  • Fixed-rate plan: A fixed-rate energy plan has a contract of 12, 24, or 36 months. During your contract, your energy rate is locked in and won’t fluctuate with the energy market. This stability makes it easier to plan your spending and ensures you won’t see price hikes during the year.
  • Variable-rate plan: A variable-rate plan means the electricity rate is tied to the current energy market. There’s no contract with a locked-in rate — instead, your rate may change from one month to the next. Some months your rate will spike, but during times of low demand, your rate might go down.
  • No-deposit plan: A no-deposit plan is one that doesn’t require you to pay a deposit or go through a credit check. These plans are helpful since many plans require deposits based on your credit score. A prepaid plan is a popular type of no-deposit plan where you pay for electricity upfront.

Enter your ZIP code above to check the types of Peoria energy plans currently available near you.

Peoria green energy

Illinois is a leader in green energy, ranking in the top five in the nation for wind energy generation. Peoria residents can find energy plans powered by either wind or solar energy.

Peoria residents have several options to choose from when it comes to renewable energy plans. First, Clearview Energy specializes in providing affordable green energy plans in Illinois and other states. Additionally, Constellation Energy offers a 100 percent green energy plan as one of its offerings. Green energy rates in Peoria start at 8 cents per kWh.

Peoria energy for business

It’s not just residential customers in Peoria who can shop around for electricity. Illinois’s deregulation law also allows businesses to shop around for electricity. If you’re a business owner in Peoria, visit our business energy page to learn more and customize your commercial energy plan.

Peoria electric rates in my area

Electricity rates vary based on location, primarily because of different utility transmission charges. As a result, the rate you pay in Peoria could be different from what someone pays in another part of Illinois, even for the same plan. Enter your ZIP code above to find the most accurate rates for Peoria today.

How energy deregulation works in Illinois

Thanks to the Electric Service Customer Choice and Rate Relief Law of 1997, Peoria customers can choose their energy provider. This law came about because Illinois residents were paying some of the highest energy rates in the country. After a 10-year rate freeze ended, the door was opened for competition, so several new energy providers entered the picture.

Residents can opt to receive electric service from Ameren or they can choose an alternative supplier, known as an Affiliate Retail Electric Supplier (RES). Alternative suppliers, or RES, must be certified with the Illinois Commerce Commission and register before they can begin providing energy to customers.

 

Looking for natural gas rates?

Illinois is a wind energy leader, ranking fourth among all states for its wind power capacity. The state also ranks high for its ethanol and biodiesel production capacities.

Switching to an energy supplier that uses renewable energy sources allows residents to power their homes with wind or solar energy. Plus, customers can often take advantage of tax incentives and other discounts when they purchase electricity from a renewable energy producer. Choose Energy has partnered with Clearview, a supplier offering green energy in Peoria.

Deregulation in Illinois doesn’t just apply to electricity. It also allows residents of Peoria and the rest of the state to choose their natural gas provider. To shop for plans for your home, visit your natural gas page and enter your ZIP code. You’ll find a list of plans and rates available near you.

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