Toledo Edison electric bills can be lowered by shopping for low electric rates

Lowest 2023 Toledo Edison Electricity Rates

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Shopping for Lowest Electric Rates in Toledo Edison

Customers of Toledo Edison in Ohio have the ability to shop for the lowest electricity rates in the region by comparing rate offers from competitive Ohio electricity suppliers.

Since the Toledo Edison service territory falls within the control of the Ohio energy choice market, the utility’s role has changed over the years from being an all-inclusive electricity provider to now only being in charge of delivering the power to their customers.

Toledo Edison

9.67¢ Price to Compare

No Sign Up Fees

Provider Plan Term Rate Savings  
Tomorrow Energy
12 months
5.99¢ / kWh

Save 39%

Direct Energy
6 months
7.09¢ / kWh

Save 27%

Direct Energy
12 months
7.09¢ / kWh

Save 27%

Constellation
12 months
7.29¢ / kWh

Save 25%

Clearview Energy
24 months
7.49¢ / kWh

Save 23%

Ohio customers who receive their electric bill from Toledo Edison, and who are not currently on a competitive plan, can likely save money by seeking out the lowest electric rate options in the area.  The difference between the competitive price and the default Price to Compare will result in pure money saved.

Toledo Edison 2023 Price to Compare

Toledo Edison Price to Compare vs ElectricRate Graph by ElectricRate

On June 1, 2023 the Toledo Edison Price to Compare increased drastically from 5.94¢ per kWh to 12.41¢, representing a 110% increase in the rate customers will pay for electricity supply in the region.

Those customers who do not shop for lower electricity rates are automatically placed on the Toledo Edison default rate for electricity supply.  The default rate is labeled the Standard Service Offer by Ohio, but is also referred to the Price to Compare by by all First Energy companies in deregulated markets.  Toledo Edison is part of the First Energy family, which also includes Ohio Edison whose customers are also trying to avoid a 2023 Ohio Edison rate increase.

Why did the Toledo Edison Price to Compare Increase?

Toledo Edison Price to Compare rates are determined through an auction process that the utility holds for Ohio electricity companies to bid for the ability to provide electricity supply service to a portion of the customer pool on the standard service offer default pricing structure.  When the auction took place for the current rates, wholesale energy rates were at very high levels causing the bidding electricity companies to have to make higher priced bids than they had in the past.
 

How to Avoid the Toledo Edison Price to Compare Increase?

Fortunately for Toledo Edison customers, those wholesale energy prices have since come down which has allowed competitive Ohio electricity suppliers to offer low fixed rates in place of the default Price to Compare.

The only thing that has to be done in order to avoid the Toledo Edison price spike is to take a few minutes to shop for the lowest Ohio electricity rates available in your area.

Lower the Toledo Edison Electric Bill

Toledo Edison

9.67¢ Price to Compare

No Sign Up Fees

Provider Plan Term Rate Savings  
Tomorrow Energy
12 months
5.99¢ / kWh

Save 39%

Direct Energy
6 months
7.09¢ / kWh

Save 27%

Direct Energy
12 months
7.09¢ / kWh

Save 27%

Constellation
12 months
7.29¢ / kWh

Save 25%

Clearview Energy
24 months
7.49¢ / kWh

Save 23%

When a consumer selects a competitive Ohio electricity rate, that rate automatically replaces the Toledo Edison default Price to Compare on the electric bill.  If the competitive rate is lower than the default rate than the consumer will obtain a lower Toledo Edison electric bill.

Due to the way the Ohio electricity market was structured, the consumer will continue to receive a Toledo Edison electric bill with the new supplier’s rate on the bill, as opposed to receiving an electric bill from the new supplier.

The reason for this format is that Toledo Edison still acts as the utility company for their customers even after they switch to a different electricity supplier.  The supplier is the company who a customer buys their power from, while the utility is the company who delivers that power to your home or business.

Toledo Edison Electricity Choice

Ever since Ohio deregulated their energy markets and became an electricity choice state, the role of Toledo Edison has changed.  That change allows Toledo Edison to fully focus on delivering power and maintaining the transmission and distribution lines within their service area.

Toledo Edison is not in the business of generating electricity or selling electricity supply to their customers, so they do not care if their customers purchase power from a competitive supplier.

Dissecting Myths about Toledo Edison by ElectricRate

Fixed vs Variable Toledo Electric Rates

The competitive electricity market allows Toledo Edison customers to shop and be placed on fixed and variable electric rates.  Most Ohio electricity companies offer fixed rates as they allow the consumer to know exactly how much they will be paying for their power.

Variable rates might entice a customer to start with a teaser rate, and then rise quickly after that first month.  Furthermore, many customers who choose a fixed rate plan and then forget to renew or shop again, are placed on a variable rate with the supplier they chose.  Similar to the business practices of insurance suppliers, energy suppliers with raise their rates on customers who are not locked in with fixed rate contracts every so often.

These rate increases can add up over time, and sometimes they can rise quite rapidly.  Customers should stay on top of their Toledo Edison electricity contract rate plans and try to avoid being placed on a variable rate in order to keep their electric bills down.

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