Illinois has multiple electricity utilities that serve different parts of the state. Here are some of the major ones:

• Commonwealth Edison (ComEd): serves the northern part of Illinois, including the Chicago metropolitan area
• Ameren Illinois: serves the central and southern parts of Illinois, including Peoria, Springfield, and the Metro East area near St. Louis
• MidAmerican Energy: serves the westernmost part of Illinois, including the Quad Cities area on the border with Iowa
• City Water, Light & Power (CWLP): serves the city of Springfield
• Nicor Gas: serves natural gas customers in northern Illinois, including parts of the Chicago area

There are also some smaller electric cooperatives and municipal utilities that serve specific communities in Illinois.

As of February 2023, the average residential electricity rate in Illinois is around 13.5 cents per kilowatt-hour (kWh).

Commercial electricity rates in Chicago and the rest of Illinois vary depending on factors such as location, usage, and provider. According to the U.S. Energy Information Administration, the average commercial electricity rate in Illinois in 2021 was 10.92 cents per kWh.

Business electricity rates tend to be lower than residential rates due to higher usage and negotiating power. However, this can vary depending on the specific provider and plan.

The cost of 1 kWh of electricity in Chicago can vary depending on the provider and plan. As of February 2023, the average residential rate in Chicago is around 14.7 cents per kWh. However, commercial rates may be lower than this.

Illinois Commercial Electricity Rates Rising: How Businesses Can Lower Their Utility Bills

Electricity is a major expense for businesses of all sizes, and rising electricity rates can have a significant impact on the bottom line. In Illinois, commercial electricity rates have been steadily increasing over the past few years, putting pressure on businesses to find ways to reduce their energy consumption and lower their utility bills. In this article, we'll take a closer look at the factors driving the rise in Illinois commercial electricity rates and provide tips for businesses on how to lower their energy costs.

Factors Driving the Rise in Illinois Commercial Electricity Rates

There are several factors contributing to the rise in commercial electricity rates in Illinois, These include:

• Infrastructure Upgrades: The cost of maintaining and upgrading Illinois' electrical grid is passed on to customers in the form of higher rates.
• Capacity Charges: Power suppliers in Illinois are required to maintain a certain amount of capacity to ensure reliability during peak demand periods. These capacity charges are a major component of electricity bills and have been increasing in recent years.
• Renewable Energy: The state of Illinois has committed to increasing its use of renewable energy which has led to additional costs for power suppliers that are being passed on to customers.
• Market Competition: The deregulation of Illinois' energy market has led to increased competition among power suppliers which can drive up prices.

Tips for Lowering Your Business's Electricity Costs

Despite the factors driving the rise in commercial electricity rates, there are steps businesses can take to lower their energy costs. Here are some tips:

Compare Electricity Rates: Take the time to shop around and compare electricity rates from different providers. You may be able to find a lower rate that can save your business significant money.

Reduce Energy Consumption: The most effective way to lower your energy costs is to reduce your energy consumption. This can be done by implementing energy-efficient practices such as turning off lights and equipment when not in use upgrading to energy-efficient appliances and implementing a building automation system.

Consider Renewable Energy: While renewable energy sources may be more expensive initially they can save your business money in the long run by reducing your energy costs and increasing your energy independence.

Negotiate with Your Supplier: Don't be afraid to negotiate with your electricity supplier. You may be able to secure a lower rate by signing a long term contract or committing to a minimum usage level.

Take Advantage of Incentive Programs: There are a variety of incentive programs available to businesses in Illinois that can help offset the cost of energy-efficient upgrades. For example the Ameren Illinois Energy Efficiency Program offers rebates for businesses that upgrade to energy efficient lighting HVAC systems and more.

Rising electricity rates in Illinois can be a significant financial burden for businesses. However by taking proactive steps to reduce energy consumption and shop around for the best rates businesses can lower their utility bills and free up resources for other important areas of their operations.