Shopping for electricity plans in Cleveland?

Get the best Cincinnati electricity rates with NorthEast Ohio’s electric companies selected by energy experts.

Cleveland Energy Market

Ohioans have the freedom to choose their energy provider thanks to energy deregulation.

The default provider for electric service for all Ohio commercial and residential customers is the utility that serves that area. Whether AEP Ohio, Duke Energy, FirstEnergy, Ohio Edison or any other electric utility, energy customers will have a line item on their electricity bill for their supply charge (in $/kWh). These electric rates fluctuate with seasonal tariff changes. That doesn’t mean you’re stuck with this rate!

Cleveland area residents and business owners have the power to choose their own retail electricity provider. This means that users can compare and select the best electricity plan that fits their needs and budget, rather than being restricted to a single monopoly utility company. With a variety of providers offering different pricing structures, renewable energy options, and other benefits, Ohioans have the opportunity of energy choice to take control of their energy consumption and make informed decisions about their electricity usage.

Energy users in the Rock and Roll Capital of the World deserve the best electricity rates from the best energy companies. Energy deregulation in Ohio has led to increased competition and more options for customers, which can result in a great alternative to default utility supply.

Ohio Electricity Companies

There are over 50 energy suppliers in Ohio and each has different types of energy plans, such as: fixed rate plans, prepaid or variable rate plans and incentives like bill credits, “free electricity” or “free nights”. The options for energy plans and rates are endless and can be overwhelming.

5 Digital Energy’s experts have implemented a thorough vetting process to carefully evaluate and pre-select the best energy companies with the most competitive rates and plans, making it easier to choose the best electricity plan for your needs.

Take a few minutes to compare rates and save money on your electricity bill

How Ohio Electricity Rates Work

What goes into turning on the lights for your home or business? Something that seems so simple actually has many components. 5 Digital Energy is your partner in navigating this complex market and choosing the best plan for your energy strategy.

Our Pick for the best Electricity Rate in Cleveland

Spoiler: we don’t have one.

Better stated, we don’t have just one. The best electricity plan for you is going to be different than the best electricity plan for your neighbor. There are many considerations that go into a retail electricity supply agreement. Our mission is to arm you with the knowledge and confidence to make an informed decision about your energy. 5 Digital Energy will provide you with the tools and information to help you compare apples to apples and choose a plan that works for you. Our 850 years of combined energy experience have already helped thousands of clients and can do the same for you.

Choosing electricity suppliers in Ohio

Energy providers can often make more profit when customers don’t understand the Electricity Facts Label (EFL) and forget to renew their contract and then are forced into an expensive month-to-month holdover rate. The best way to stay on top of electricity rates and work with the best electricity provider for your needs is to partner with an advisor like 5 Digital Energy. Navigating electricity and natural gas markets is a full-time job that many business owners do not have time to do.

It is important to note that switching to a new provider will not affect the reliability or safety of your electricity service, as the transmission and distribution of electricity is still regulated by the Public Utilities Commission of Ohio (PUCO).

Here’s what 5 Digital Energy helps you consider when it’s time to switch energy providers:

Take advantage of market opportunities

Electricity and natural gas prices are more volatile than any other commodity. Energy rates change every day, and often more than once per day. Market prices fluctuate based on supply and demand and are influenced heavily by weather and government regulations.

5 Digital Energy has a team of experts with over 850 years of combined energy experience. We help our clients navigate these power markets and empower people like you to make informed energy decisions.

Understand different types of energy plans

Ohio electricity rates that you see online are quoted in cents per kilowatt-hour (kWh). You can find your current usage in kWh by looking at the supply portion of your energy bill. Knowing your electricity usage can help narrow the appropriate rates for your home or business. There are several types of plans that customers can choose from, including:

  1. Fixed-rate plans: These plans offer fixed electricity prices in cents per kWh for the duration of the contract. The customer’s rate is not affected by changes in the market price of electricity.
  2. Variable-rate plans: These plans offer a fluctuating rate per kWh and are based on the current market price. The customer’s rate can change each month and is affected by changes in the market price of electricity.
  3. Time-of-use plans: These plans offer different prices for electricity at different times of the day, based on the time of use like “free nights”. The customer’s rate is higher during peak demand periods and lower during off-peak periods.
  4. Green energy plans: These plans provide electricity that is generated from renewable sources such as solar or wind power.
  5. Flat-rate plans: These plans have a fixed rate per month regardless of the amount of energy consumed.
  6. Prepaid plans: This is a prepaid plan type of electricity contract where you buy the electricity before you use it.

When searching online for the best commercial or residential electricity rates, different websites can show an aggregation of different offers without clearly defining the differences between contract terms.

The cheapest electricity rate does not always equal the lowest electricity bill

There are many components of electric rate. You will see so many different rates online because the retail electric providers can choose different ways to show those rates. For example, if you see an offer that is much lower than its competitors, it is likely that the supplier has elected to pass certain components through to the final invoice instead of including them in the quoted rate.

Review early termination fees

An early termination fee is a penalty that is charged to customers who terminate their retail electricity agreement before the end of the contract term length.

For most commercial contracts, the early termination fee is based on the number of months remaining in the term of the agreement. When you sign an agreement with a new energy company, they estimate your monthly energy usage (in kilowatt hours) to determine how much electricity to purchase from the wholesale market. If you cancel your agreement early, the energy provider will calculate the amount of damages they incurred due to the lost revenue and collect that amount from the customer that terminated the agreement.

Alternatively, some energy providers may charge a fixed dollar amount for each month remaining in the contract. For example, if the early termination fee is $50 per month and the contract has 12 months remaining, the penalty would be $600.

It is important for small business owners to review the early termination fee calculations in the retail electricity agreement before signing the contract, to ensure that they understand the terms and the potential financial impact of early termination.

Your energy game plan

Switching Ohio electric providers in Cleveland is easy. By following a few simple steps, you can secure the best electricity rate.

Step 1: Compare Ohio Energy Companies

Select your energy usage details and your zip code. We’ll analyze your energy habits and needs and match you with the most suitable and verified energy providers.

Step 2: Switch your energy company

5 Digital Energy has vetted reputable energy providers in Ohio to ensure there are no hidden fees, “introductory rates” or unfavorable contract language. You won’t have to deal with any unpleasant terms and conditions.

Step 3: Leave it to us to handle everything else.

Once you have chosen your new energy rate, we will take care of all the paperwork and set up your new energy plan. We will keep you informed every step of the way and let you know when your energy service is fully activated.

On this page: 

    X
    Jump to Section

    Find Your Perfect Electricity Plan in Cleveland

    Find the best electricity plan in just a few clicks

    Pair me with the best electric company!

    Helpful Articles in our Blog

    What is the Difference Between Fixed and Variable Energy Rates?

    Choosing between energy providers in a deregulated market can be complicated enough without factorin
    Read more

    BidURenergy Acquisition

    Energy Advisory Firm 5 Acquires BidURenergy and NRG Advisory Services to Significantly Expand Its Pr
    Read more

    Track Electricity Usage Guide

    In an age where resource conservation and financial prudence intersect, understanding our energy con
    Read more

    Live with 5 Digital Energy: How to Make Smart Energy Choices

    View our short yet insightful webinar session for expert advice on navigating today’s complex
    Read more

    Enter your search term below.

    Search