Get the Best Electricity Rates in Naperville, IL for 2023
Naperville electricity got deregulated in 1997. Since then, in Naperville, Illinois, residents have enjoyed the privilege of choosing among various energy providers for their electricity needs.
Do you live in Naperville or plan to move there? With the number of electricity companies operating in the city, selecting the best one that fits your energy usage and budget can be a chore. This article will help you make the best choice regarding your electricity service.
Naperville, IL Rates
One of the perks of energy deregulation is the freedom to get electricity from suppliers other than the one offered by your utility company. As such, you can reduce your monthly electricity bill even if your energy usage stays the same. How so? By comparing the electricity rates of the different energy providers and choosing the one with the most reasonable per kWh price.
Here’s how much electricity costs in Naperville, Illinois, depending on the provider.
|Electricity Supplier||Plan Length||Electric Rate|
|AEP Energy||36 months||$0.0878 per kWh|
|Next Era Energy||36 months||$0.0887 per kWh|
|Freepoint||36 months||$0.0890 per kWh|
|ILG&E||36 months||$0.0919 per kWh|
|Public Power||36 months||$0.0919 per kWh|
|Energy Harbor||60 months||$0.0921 per kWh|
|Next Era Energy||30 months||$0.0922 per kWh|
|AEP Energy||24 months||$0.0923 per kWh|
|Next Era Energy||24 months||$0.0934 per kWh|
|Energy Harbor||48 months||$0.0940 per kWh|
|Freepoint||24 months||$0.0951 per kWh|
|Energy Harbor||36 months||$0.0970 per kWh|
|ILG&E||24 months||$0.0980 per kWh|
|Public Power||24 months||$0.0980 per kWh|
|AEP Energy||18 months||$0.0985 per kWh|
Types of Electricity Plans in Naperville, IL
Your choice of energy provider is not the only factor influencing how much you spend on electricity. The type of energy plan also affects your utility costs. In Naperville, Illinois, electricity providers offer various plans with varying rates, terms, and contract lengths. Knowing what these energy plans are can help you decide which one will suit you best.
Many electricity providers offer fixed-rate plans in Naperville, Illinois. The main benefit of this plan type is price stability. With fixed-rate energy plans, you get a set per kWh rate every month during your contract’s duration. That means the amount you pay per kWh won’t vary even if the electricity prices in the market surge or dip. However, you may be charged an early termination fee if you want to switch away from the plan before the end of the agreement.
The price of electricity in the market dictates the per kWh rate you pay in variable-rate energy plans. If the power rate drops or surges, so do your electricity costs. That’s why most Naperville residents prefer fixed-rate plans. However, this energy plan also offers some advantages. For example, you’ll be able to see some savings on your electricity bill if energy prices dip. You won’t be able to enjoy such a perk with fixed-rate plans.
Most electricity providers in Naperville, Illinois, will require you to pay a deposit before they provide utility service. They also often do a credit history check, and you need to have a good credit score. If you want to sidestep these requirements, then no-deposit energy plans can be excellent options. Fortunately, many energy providers offer this plan type in Naperville. The downside? No-deposit energy plans often have higher electricity rates.
Business Energy Plans
Businesses of all sizes in Naperville, Illinois, can choose from several energy plans that address the needs of commercial electricity consumers. Such plans offer competitive rates and can help business owners manage their energy costs more efficiently. The good news is that the average Naperville commercial electricity rate is 7 percent lower than the national average, which is at 10.92 cents per kWh.
Green Energy Plans
If you’re worried that your electricity usage will impact the environment, you can opt for green energy plans. Several electricity providers operating in Naperville, Illinois, offer such plans. These plans provide electricity from renewable sources, such as wind, solar, and water. As such, you won’t have any problem powering your home with green energy.
Factors That Affect Electricity Rates
In most cases, your energy usage dictates the amount you see on your monthly electric bill. However, other factors also come into play and affect the price of those kWh you consume. Here are some of those factors.
The world’s supply of fossil fuels is rapidly dwindling. Because it takes eons for these fuels to replenish, there’s a shortage in the market, not just in Naperville, Illinois but all across the globe. Without fossil fuels, generating electricity would be problematic because, as it stands, burning fuels such as coal, oil, and gas is still the most common way of producing electricity. When the price of these fuels rises, so does the rate of electricity in the market.
Power Plant Prices
Electricity gets generated in power plants. But building, operating, and maintaining such plants require millions of dollars. There has to be a way to recoup that investment, which means that the amount spent goes into the price of electricity.
Transmission and Distribution Area System
From the power plants, electricity needs to reach the consumers to be of any use. Building a transmission and distribution system brings the generated electricity to the end-users. However, like power plants, constructing, operating, and maintaining this system cost quite a sum. That amount also affects the per kWh rate in the market and, in turn, your electric bill.
In regulated areas, the state dictates how much consumers pay for electricity. However, Naperville, Illinois is under a deregulated energy market. As a result, competition among the various electricity providers is the driving force behind energy prices in the city.
Extreme weather can impact electricity generation, distribution, and demand. Energy demand peaks during summer and winter to answer cooling and heating needs. Downed power poles or cut lines require repair to restore services. Even the production of renewable energy can be affected. Cloudy skies will reduce the energy a solar system generates, for example.
Illinois Commerce Commission
The Illinois Commerce Commission (ICC) is a state agency that regulates utility service providers in Illinois. Such utility services include telecommunications, electricity, transportation, and natural gas. The commission determines the rates and sets the policies for the said services.
The ICC was created to assure that the residents of Illinois get adequate, safe, and reliable public utility services at a reasonable price. Its program, Plug In Illinois, helps consumers in the state understand and navigate Illinois’ deregulated energy market.
Finding the Best Energy Plan
If you’ve just moved to Naperville, Illinois, or simply want to lower your electricity costs, you can search for an energy plan that meets your needs and budget. However, having many options for electric companies can make the selection process a bit daunting. Fortunately, there are ways to make the task easier. Here are some tips.
- Identify your energy consumption level: Each energy plan has a corresponding Kwh rate. Knowing your average usage makes it easier to compare the prices of the various energy plans offered by the electricity providers in Naperville, Illinois.
- Determine the type of energy you want to use: Most energy companies in Naperville offer fossil-fuel-based as well as renewable energy-sourced electricity. If you advocate for the environment, opting for green energy will help your cause.
- Decide what customer experience you want: Some energy companies in Naperville provide excellent customer service. However, not all of them offer inexpensive rates. So you need to ask yourself what’s more important to you.
- Check your budget: In most cases, how much you’re willing or able to pay will determine the type of plan you opt for. With so many energy companies in Naperville, you’re sure to find one that works for you.
How To Switch Your Electricity Provider?
If you’re unhappy with your current provider or plan, switching away is your best option. It’s a good thing that finding a new provider in Naperville is a breeze in most cases. These simple steps will help you get the best electricity rates in the city.
- Browse Naperville energy companies and prices: You don’t have to spend hours scouring the web to get the needed information. Just enter your zip code on ElectricRates’ website to see the plans of various providers in Naperville.
- Review the details of the different plans: Check the rates, contract lengths, and other charges, such as early termination fees.
- Verify the status of your current contract: You may have to pay an early termination fee if you switch before the end of the agreement.
- Sign up with your chosen provider: After you’ve decided on the new energy plan and provider, contact the company and sign up. Your new provider will take care of the rest.
How to Reduce Your Electric Bill with Solar Energy?
Naperville residents spend about $120 per month on electricity, on average. That comes to $1,440 per year. Although that amount is less than the national average electric bill of $1,905, more ways to reduce electricity expenditures exist.
If you live in Naperville, using solar energy can help lower your utility bill. By how much? That depends on a couple of factors: your current electricity consumption and how much of your electric bill you can offset with solar.
Based on the sun hours Naperville gets, an 8.1 kilowatt (kW) solar panel system will cover all your electricity needs for one year. That’s if you consume 11,688 kWh annually. Although installing a solar system requires a hefty investment, you can quickly recoup the dollars you spent on the savings you get on your electricity expenditures.
Let’s say electricity prices in Naperville increase an average of 1.4 percent yearly. You can expect to save around $1,400 the first year you install your solar system, $7,500 in the next five years, $15,300 over 10 years, and $32,800 over 20 years on electricity bills. If onsite solar isn’t feasible, you can subscribe to a community solar farm. Doing so lets you save 5 to 15 percent in electricity costs annually.
About Naperville, IL
Naperville is a city located about 30 miles west of Chicago. With a population of 147,734, it is one of the largest cities in Illinois. Naperville was founded in 1831 by Captain Joseph Naper and his brother John and it officially became incorporated in 1890. Recognized as the wealthiest city in the Midwest, this rural community serves as home to popular retailers, coffee shops, restaurants, and shopping centers.
Popular ZIP Codes
Naperville has the following zip codes.
Living and Moving to Naperville
In most cases, you can’t go wrong in moving to a place that ranks high on the Best City to Live in America list. That’s Naperville for you. It’s a locality where community matters and residents watch out for each other. That’s probably one of the reasons why Naperville was also named the safest city in the country.
Families and young professionals comprise a large percentage of the city’s population. If you’re concerned about employment, you’ll have plenty of opportunities for work in the area. After all, Naperville lies within the Technology and Research Corridor of Illinois, where many Fortune 1000 companies are based.
Highly rated public schools and internationally accredited police and fire departments makes the city a very livable place indeed.
How can I get help with my electric bill in Illinois?
Residents of low-income groups can turn to the Low Income Home Energy Assistance Program (LIHEAP) for assistance. This government entity helps eligible households meet their home’s electricity needs.
Who qualifies for the energy rebate?
Property owners who made improvements to make their homes more energy-efficient may qualify for government tax credits to offset the costs of making the repairs or upgrades. Energy rebates are also available for those who use renewable energy to power their homes. In most cases, residential power users turn to solar energy to reduce their dependence on grid-sourced electricity. This entitles them to tax credits and rebates.
How do I turn the power back on in my house?
First, you’ll need to determine if the outage is limited to your home. If your neighbors have power, check your circuit breaker panel as a tripped breaker could be the culprit. Try resetting your main breaker by toggling the switch to the on and off position a couple of times. That sometimes does the trick. If the lights remain out, you may need to call an expert to take a look at your electric system.
Can my electric supplier cut me off?
Yes, your electric supplier can cut off your electricity if you can’t pay your bill. However, they must follow a process before turning off your power. Several rules also prevent them from arbitrarily cutting off your energy supply.
Fortunately, the average electricity rates in Naperville are lower than the country’s median price. Still, you can lower your electric bill if you choose your energy plan carefully. Other ways to reduce your energy costs include installing solar panels, making upgrades to make your home more energy-efficient, and conserving electricity.