Survey: Companies Can Beat Surging Standard Service Offer Commercial Rates
Across the country, commercial electricity prices have climbed steadily since April 2024. Businesses nationwide now pay 13.51 cents per kilowatt hour on average, up 6.71% from 12.66 cents. However, Ohio business electricity rates have surged much faster.
In just two years, tight energy supplies in the PJM grid pushed capacity auction results sharply higher. As a result, Ohio businesses have watched their commercial electric rates soar.
According to the U.S. Energy Information Administration, the average Ohio commercial electricity rate stood at 10.69 cents per kWh in April 2024. By April 2026, that rate had risen to 13.65 cents per kWh, a jump of 27.68%.
The rising rates reflect the cost of energy supply with the utility's charge for delivering and maintaining power. Both factors have pushed prices upward, driven by rising transmission costs, maintenance needs, and storm damage repairs.
However, EIA's statewide average blends data from Ohio's six investor-owned utilities along with 32 coops and municipal utilities. Though the investor owned utilities serve nearly 90% of Ohio's electricity customers, coops and municipal utilities typically charge less. As a result, their pricing tends to pull the statewide average rate lower.
When researchers at OhioEnergyRatings.com isolated the commercial electricity rates offered by the six investor owned utilities, they found their rates averaged 16.06 cents per kWh in 2024; about 50% higher than most coops and municipals.
Rates among these six utilities ranged from 11.63 cents per kWh at Duke Energy to 18.59 cents per kWh at Illuminating Company. Applying the statewide 27.68% increase, analysts estimate 2026 rates now average 20.50 cents per kWh across these utilities, with Illuminating Company reaching roughly 23.74 cents.
For a business in 2026 using 6,000 kWh a month, this translates to a monthly bill near $1,230, about $300 more than in 2024.
Unlike residential bills, where the utility delivery charge makes up most of the cost, commercial bills are driven mainly by the energy supply rate. This means businesses still paying their utility's Standard Service Offer likely pay far more than necessary.
With so many factors affecting commercial electricity prices, business owners now have more reason to compare rates carefully. By shopping Ohio energy suppliers and switching to a certified retail electricity provider, businesses can often save up to 50% compared to their utility's default rate.
OHEnergyRatings.com is operated by Lumanex LLC
Lumanex LLC operates an energy management platform and a network of energy shopping websites across 11 states across 56 utilities, providing our advisory, comparison and ratings service to over 58 million residential and commercial customers. We provide our customers with the power to choose the best providers through our consumer reviews platform and provide a reliable, unbiased, source of valuable consumer insight, advice, in-depth energy company service evaluations, and personalized recommendations.
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