Compare Ohio Electric Rates & Prices

Ohio’s deregulated energy market gives residents and business owners the power to choose their natural gas and electric suppliers. Deregulation allows customers to shop for energy based on their needs, compare different Ohio energy suppliers, and secure the best electric rates available.

The latest average residential Ohio electric rate is 16.75 cents per kilowatt-hour (kWh), which is about 1% lower than the national average of 16.88 cents per kWh. The average commercial electricity rate in Ohio is currently 10.69 cents per kWh, 15% lower than the U.S. average of 12.66 cents per kWh. Electricity prices change frequently based on supply and demand. You can use the free Choose Energy marketplace to find today’s best electric rates in Ohio.

When exploring energy options in Ohio, you’ll encounter several types of energy plans. Your electricity rate structure depends on the plan you pick, which falls into one of the following categories. Be sure to review the Electricity Facts Label (EFL) of any plan you consider to understand all the details.

• Fixed-rate plans: A fixed-rate plan keeps your rate constant for the duration of your contract, typically lasting 12 to 36 months. This type of plan can help you budget your bills better because the rate you pay is the same every month. Ending your contract early will likely result in an early termination fee (ETF).
• Variable-rate plans: With a variable-rate plan, your Ohio electricity rate per kWh will fluctuate monthly based on the market price of energy. This means your rate can increase during times of high energy demand and decrease when demand is low. Because variable-rate plans don’t require a contract, you won’t incur an ETF if you switch to another plan.
• Prepaid and no-deposit plans: Some electric companies in Ohio require a deposit to enroll in a plan. If you have a good credit score, they may waive the deposit. To avoid a deposit, consider looking for a no-deposit electricity plan. A common no-deposit option is a prepaid energy plan. It allows you to pay upfront for electricity use instead of receiving a bill at the end of the billing cycle.
• Renewable energy plans: Green energy plans in Ohio include electricity generated from renewable sources like solar power, wind energy, and hydropower. You can find competitive and affordable green energy plans in Ohio.

Because of the deregulated energy market, utility companies and electric suppliers in Ohio are separate entities with different responsibilities. It’s important to know who to contact for billing questions or in the event of a power outage.

Energy suppliers in Ohio

An energy supplier is an independent business that buys electricity and sells energy plans to consumers. Electric suppliers are responsible for handling billing and setting electricity rates in Ohio. This includes the price per kWh for electricity or terms for gas. Thanks to deregulation, Ohio residents can choose their electricity supplier. Some of the major energy suppliers in Ohio include:

• Direct Energy
• Constellation
• Clearview Energy
• Discount Power

Utility providers in Ohio

In deregulated markets, the utility company delivers electricity to your home or business, maintains power lines and energy infrastructure, and restores power during outages. Your utility company is determined by your address, so you cannot change it. Many Ohio utility companies are subsidiaries of four larger national energy companies:

• AES (AES Ohio, formerly Dayton Power & Light)
• American Electric Power (AEP Ohio, includes Ohio Power and Columbus Southern Power)
• Duke Energy
• FirstEnergy (Ohio Edison, Toledo Edison, and The Illuminating Company)

In Ohio’s deregulated market, consumers can receive electricity from either their utility or an independent energy supplier. If they don’t choose a provider, they’ll be automatically enrolled in a default plan and rate with their utility, called the Price to Compare (PTC). The following are PTC electricity rates in Ohio offered by the state’s major utility companies.

AEP Ohio’s price to compare for Columbus and surrounding areas from June 1, 2024, to June 30, 2024, is $0.0768/kWh.

Please note: All rates above are accurate as of 6/25/2024, 9:57:30 AM CDT for ZIP Code 43004. Rates may have changed since this date/time. For the most up-to-date rates in your area, please enter your ZIP code above.

Duke Energy’s price to compare for Cincinnati and surrounding areas from June 1, 2024, to June 30, 2024, is $0.0801/kWh.

Toledo Edison’s price to compare for Toledo and surrounding areas from June 1, 2024, to June 30, 2024, is $0.0942/kWh.

The United States approved the Energy Policy Act in 1992 to ensure consumers had energy options through deregulation. In 2001, Ohio enacted energy deregulation to remove energy monopolies and expand competitive energy choices for residents and businesses.

Ohio’s Public Utilities Commission (PUCT) monitors regulations and rates to ensure utility services are offered at fair rates to Ohio residents. Before deregulation, energy supply and delivery were combined into one cost. After deregulation, the state’s electric and gas were separated into two different entities.

Ohio electricity consumers can save on their bills by securing a cheap fixed rate during low-demand periods like spring and fall when temperatures are milder. You can enter your ZIP code on Choose Energy’s marketplace to browse for affordable energy plans and rates in Ohio.

Choose Energy is an independent energy marketplace that makes it easy for customers in deregulated states to navigate their energy choices. We work with leading electricity suppliers to simplify energy shopping and help you find the best energy rates in Ohio. Here’s how it works:

• Enter your ZIP code. Our free marketplace will show you today’s cheapest electric rates in Ohio and help you compare plans in your area.
• Choose a plan. Once you’ve found a plan you like, you can sign up online or over the phone in just a few minutes.
• Enjoy your choice. Your new Ohio energy supplier handles the setup with no interruption to your service.

The deregulated energy market allows you to switch Ohio energy suppliers. Before deregulation, residents and businesses were limited to receiving their electric service from one company. Since 2001, you can compare electricity rates and plans and switch between available options. Here’s how it works:

Step 1: Compare energy suppliers, plans, and prices. A variety of energy suppliers operate in Ohio, each offering different plan types, contract lengths, and energy rates. Switching electricity suppliers is simple, but finding your new supplier and plan requires some research. You can use the free Choose Energy marketplace to find and compare your options. Enter your ZIP code and select your utility provider to explore current energy rates in your area.

Step 2: Review a plan’s Electricity Facts Label (EFL). Each plan comes with a unique EFL outlining plan details like rates, contract lengths, additional fees, and more. It’s important to review the EFL and understand its terms before signing a contract.

Step 3: Switch energy suppliers. If you are enrolled in an energy plan and want to switch to a new supplier, you may need to pay an early termination fee (ETF). You won’t be charged an ETF if your contract is expiring or if you’re moving out of your current supplier’s service area. Once you’ve found a new supplier on the Choose Energy marketplace, you can sign up for your plan in a matter of minutes. After you complete the switch, your new supplier will coordinate with your old supplier to transfer your service.

What is a good price per kWh in Ohio?

Based on data from the Energy Information Administration (EIA), the average residential electricity rate in Ohio is 16.75 cents per kWh. However, you can find cheaper energy prices on the Choose Energy marketplace. Currently, the lowest Ohio energy price on our marketplace is 5.59 cents per kWh, offered by Public Power. Enter your ZIP code to explore current options in your area.

Who is the cheapest energy supplier in Ohio?

Public Power currently offers the cheapest energy rate in Ohio on the Choose Energy marketplace. Energy Harbor, Clearview Energy, and Frontier Utilities also offer lower prices than the average electricity rate in Ohio. Rates can change often, so enter your ZIP code to check current Ohio electricity rates and compare suppliers.

How can I lower my electric bill?

To lower your electric bill, consider using energy-efficient appliances, maintaining your HVAC system, unplugging unused devices, and replacing incandescent bulbs with LED lighting. You can also switch to an energy provider with better electricity rates on the Choose Energy marketplace.

Is a deposit required for my energy plan?

When signing up for energy service, electric suppliers in Ohio may ask for a deposit from customers with low credit scores. However, you can search for plans without a deposit using our marketplace filters.

What is a smart meter?

A smart meter is a digital device that tracks and collects data on how much electricity or gas you use in your home. Unlike traditional meters, smart meters send data digitally to your utility company. This allows your utility to remotely read your meter without a physical visit. Smart meters can measure a customer’s energy usage more accurately than traditional meters.