Peoria Electricity Rates
Contents
- 1 Peoria Electricity Rates
- 2 Utility Companies in Peoria
- 3 Contact Ameren for Power Outages
- 4 How to Choose an Electric Supplier?
- 5 Read the Terms and Conditions!
- 6 Is There an Early Cancellation Fee?
- 7 Fixed vs. Variable Rates
- 8 Ameren Basic Generation Service (BGS)
- 9 What Happens at the End of my Plan?
- 10 View by City
- 11 Clean Energy
- 12 Electricity Rates
Residents living in Peoria, IL can enjoy lower energy prices when they shop around for a competitive electric supplier. Peoria electricity rates fall under the Ameren utility service area. The city of Peoria is just one of many cities in Illinois that is located in a deregulated electricity market. The Illinois Electric Service Customer Choice and Rate Relief Law of 1997 gave Illinoisans the power to leave their utility company and choose another source for the generation charges. Allowing more energy companies into the market has helped push down energy prices over the years.
The city of Peoria is located 150 miles southwest of Chicago and has a population of just over 110,000. The weather consists of warm to hot summers and cold winters. Snowstorms are not uncommon in the area. The average snowfall in the area is just over 24 inches per year.
Utility Companies in Peoria
Ameren is the main utility company that operates in Peoria. The utility company is responsible for maintaining the power lines to safely deliver the electricity to its customers. The delivery charge represents the regulated section of the electric bill. The customer will not be able to switch to another utility company for the delivery charges.
Contact Ameren for Power Outages
If you recently changed electric suppliers and experience a power outage, then you will still need to contact Ameren to resolve the issue. Thanks to advancements in the power grid, power outages can be detected and fixed within hours.
Ameren contact information: 1-800-755-5000
How to Choose an Electric Supplier?
There are many advantages of living in a deregulated service area besides paying a lower electric bill. Energy choice gives Peoria residents more options when selecting an energy plan that is suited for their specific needs. The energy plan that is right for you may not be the same one that is right for your neighbor. When shopping for energy providers here are a few things to keep in mind that will help you make the right choice.
Read the Terms and Conditions!
Save yourself from any future surprises on the electric bill by reading the terms and conditions. The terms and conditions will lay out the details of the energy plan including the energy rate, term length, and any additional charges that are included in the plan.
Is There an Early Cancellation Fee?
Most energy plans will include an early cancellation fee if you change energy providers before the end of the agreement expires. Early cancellation fees will be laid out in the terms and conditions. These fees can come in the form of a flat fee or a dollar amount multiplied by how many months are left in the agreement. Early cancellation fees can cost up to $300!
Fixed vs. Variable Rates
Fixed and variable rates are the most common rate products for residential customers. Each has its pros and cons. Fixed rates can help protect the customer during a rising market. However, if the market drops, you’ll be stuck paying a higher rate. Most fixed energy plans will include an early cancellation fee.
Variable rates can change monthly at the sole discretion of the energy supplier. It’s not uncommon to have a low introductory variable rate that increases during the term of the agreement. Most variable-rate plans will not have an early cancellation fee giving flexibility to the customer to change energy providers without having to pay a fee.
Ameren Basic Generation Service (BGS)
Ameren is required to provide generation services for those who do not switch to an electric supplier. The Basic Generation Service (BGS) can be used as the price to compare while shopping for providers. If you lock in a rate lower than the BGS rate, then you will be saving money.
What Happens at the End of my Plan?
If you cancel your plan at the end of the agreement, then you will automatically be transferred back to the BGS rate with Ameren. However, if you do not cancel your plan most energy providers will change you to a month-to-month variable plan. Once this happens don’t be surprised to have the electric bill double or even triple in a single billing period. We recommend shopping around for a new rate plan a month before the old plan expires.
View by City
Aurora | Bloomington | Champaign | Chicago | Elgin | Evanston | Joliet | Naperville | Oak Park | Arlington Heights | Rockford