Compare Ohio Electric Rates & Prices

Ohio, along with over a dozen other states, has a deregulated energy market. With the freedom to choose both their natural gas and electric providers, Ohio residents can shop for energy based on individual preferences.

The latest average residential Ohio energy rate is 15.58 cents per kilowatt-hour (kWh), which is 0.8% higher than the national average of 15.45 cents per kWh. Current commercial electricity rates in Ohio are 10.51 cents per kWh, 19% lower than the U.S. average of 12.68 cents per kWh.

When exploring energy options in Ohio’s deregulated market, 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. 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 cancel your plan early.
• 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.

Due to deregulation, Ohio energy suppliers and utilities are separate entities with different responsibilities.

Energy suppliers

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 rates. This includes the price per kWh for electricity or terms for gas. Thanks to deregulation, Ohio residents have the freedom to choose their electricity supplier. Some of the major energy suppliers in Ohio include:

• Direct Energy
• Constellation
• Clearview Energy
• Discount Power

Utility providers

In deregulated markets, the utility company is responsible for delivering electricity to your home or business, maintaining power lines and energy infrastructure, and restoring power during outages. Your utility company is determined by your address, and 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 rate with their utility. A default rate from a utility company is called the Price to Compare (PTC). The following are PTC electricity rates offered by major utility companies in Ohio.

AEP Ohio’s price to compare for Columbus and surrounding areas from April 1, 2024, to May 31, 2024, is $0.113/kWh.

Please note: All rates above are accurate as of 4/24/2024, 11:20:23 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 April 1, 2024, to April 30, 2024, is $0.098/kWh.

Toledo Edison’s price to compare for Toledo and surrounding areas from April 1, 2024, to May 31, 2024, is $0.11/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) is responsible for monitoring the regulations and rates to ensure utility services are offered at fair rates to Ohio residents. Before deregulation, the supply and delivery of energy were combined into one cost. After deregulation in Ohio, the state’s electric and gas were separated into two different entities.

Ohio electricity consumers can save on their bills by securing a low 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.

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 poor credit scores. However, you can search for plans without a deposit using our marketplace filters.

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.

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 the need for a physical visit. Smart meters can measure a customer’s energy usage more accurately than traditional meters.

Do Ohio plans offer renewable energy options?

Yes, Ohio residents can choose plans with renewable energy options. Ohio’s Renewable Portfolio Standard requires that 8.5% of electricity sold by the state’s utilities must be from renewables by 2026, adding more green sources to energy plans.