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Alternative electricity providers the ‘wave of the future’ in Illinois

With electricity deregulation, Illinois residents could save a substantial amount of money by comparing electricity rates, according to WJBC.

The news source spoke with the director of the Energy Council at the Illinois Chamber of Commercer, Tom Wolf, who called competitive electricity providers "the wave of the future."

These independent electricity companies provide the energy itself that residents use while utilities continue to actually transmit the power, leaving customers with lower electricity bills and the same service.

"Think of it this way: If you get an 8 percent discount on your energy purchase through an alternative retail electricity supplier, that’s a month for free, so I encourage residential customers to go look at their choices for electricity from these retail suppliers," Wolf explained.

The Illinois Commerce Commission reports that a growing number of a residents have begun to compare electricity providers, with the number receiving their power from alternative electricity providers reaching more than 223,000 by November last year. However, the ICC also notes that this group still accounts for less than 5 percent of all the state's residential customers.