Energy Deregulation In Illinois

Energy procurement services are essential these days. While this name sounds complicated, what Navigate Power does is simple. Navigate Power is focused on finding the best energy supplier for a specific business or need.

Deregulation has caused a sudden surge in different energy suppliers in the state, and this also results in many confused customers who don’t know which is the right service for them. Deregulation has also given businesses the power of choice – the ability to choose their energy supplier and not be forced to adhere to the standards set by the government.

Different Energy Markets in Illinois

The state of Illinois has made significant changes to its energy policies, and energy deregulation is one of those. The deregulation of energy gives the citizens of Illinois an important decision to make – they now have the option to choose their energy providers, be it for residential or commercial requirements. These energy providers fulfill the commercial as well as residential needs of Illinois. Some of the most popular energy companies are –

  • Commonwealth Edison Company (ComEd)
  • MidAmerican Energy Company
  • Ameren Illinois
  • Mt. Carmel Public Utility Company

While these are the most popular choices to gravitate towards, as of 2014, there were over 87 energy providers who were offering all types of energy and in different regions of the state.

  • Illinois is the fifth-largest energy consuming state in the US. This consumption not only goes to show that the energy markets in this state are massive, but also that Illinois has a booming industrial sector as well.
  • In terms of the refining of crude oil, Illinois is the fourth largest contributor in the country. It produces a whopping 1 million barrels of oil every single day.
  • In terms of ethanol production, Illinois is the third-largest in the country.
  • Illinois is also a very coal-mining intensive state. It contributes to 6% of the total coal production of the country.
  • This state has six nuclear power plants, and in total, it contributes to 12% of the total electricity generated by nuclear power plants in the country.

Illinois is actively involved in energy production and energy consumption.

Brief History of The Illinois Energy Deregulation Policy

When a state is deregulated, you are opening up all the possibilities of competition. With energy deregulation in Illinois, many energy providers are competing against one another. But this situation was different in the 1930s. Back then, energy was regulated, and only utilities had the power to supply energy to the people of Illinois, for residential and commercial uses.

For cost controlling reasons, the government placed a cap on the rate of energy prices. The consumers had no say in this, and it triggered unrest. Ultimately, this resulted in the state government passing different legislation to separate the delivery and supply of energy.

While this seemed like a rather radical move back in the day, it also opened people’s eyes to the opportunity of choosing their energy supplier. Now people can select their electricity supplier and natural gas supplier. Deregulation places autonomy back into the hands of the customer but also increases the number of energy suppliers, increasing competition.

How to Switch From One Energy Provider to Another?

If you have been considering changing your energy provider, it probably is time to do so. No one wants to overpay for their power. This is where an energy procurement service like Navigate Power comes into the picture. We help you find the best energy service provider for your business or your needs. With Navigate Power, switching between energy providers is straightforward. On our website, you will find a list of energy suppliers and their rates so you can find what best suits your needs.

Navigate Power’s headquarters is in Chicago, Illinois, but we are dedicated to providing our services to states around the country that have deregulated energy policies.