Best Electric Companies of 2024

When moving to a new home, you may have the opportunity to choose your energy provider, thanks to Energy Choice. This program allows consumers in 17 deregulated states to shop for and select their natural gas and electricity providers, similar to choosing insurance, phone, and internet services. The beauty of having options means you can find the best rates and start saving on your utility bills.

We selected the top five electricity companies after a comprehensive evaluation of over 100 energy providers, along with more than 20,000 customer reviews. Constellation Energy is the best overall electric company, serving millions of homes with transparent pricing and no hidden fees.

We picked NRG as the best choice for consumers who want to find an energy plan that’s just right for their needs. NRG offers multiple options, from fixed-rate plans to plans with free nights and weekends.

Energy Harbor offers straightforward, no-frills plans to make finding an energy provider as simple as possible. If you want basic utility services with no surprises, Energy Harbor is worth looking into.

Click on one of the providers below to discover your options and start saving today.

When choosing an electric company, it’s important to balance concerns like monthly rates with other priorities like sustainable energy, rebates, and whether your rate changes over time. The key things to look for include:

Competitive prices
Finding the best price involves understanding the details. Some rates change monthly, some brands charge more for their name, and newer companies may offer lower rates to attract customers.

Rate stability
A stable rate helps you predict your energy usage and future bills, avoiding sudden spikes. Fixed-rate plans offer more stability. Remember, rate stability means the unit price stays the same, but your bill can still increase if you use more energy.

Perks and promotions
Look for loyalty programs, bill credits, gift cards, or other incentives. Alternatively, you might prefer a no-frills plan with a simple low price.

Constellation Energy stands out as our favorite electricity company thanks to transparent pricing and plenty of customer perks. As one of the nation’s largest electricity and natural gas retailers, Constellation serves millions of homes, institutional customers, public sector entities, community aggregations, and businesses.

Constellation offers a wide variety of plans and contract terms to suit different needs and preferences, giving you a lot of flexibility when setting up utilities for your new home. Constellation’s transparent pricing model ensures no unexpected hidden fees, making it easier to budget for energy expenses.

• Connecticut
• Delaware
• Illinois
• Maryland
• Massachusetts
• New Jersey
• Washington, D.C.

If you’re looking to reduce your carbon footprint, Constellation provides green energy plans that support renewable energy sources. You can also take advantage of HVAC warranty plans that help keep your system in top shape so you don’t need to worry about keeping your home cool (or warm) when temperatures get extreme.

We also like that Constellation is known for its excellent customer service, ensuring that customer inquiries and issues are handled promptly and professionally. The company also provides intuitive and helpful tools for managing your energy usage and accounts—making it easier to track and control your energy consumption.

While Constellation's rates may be slightly higher than some competitors, these costs are often offset by the various bill credits and incentives. Overall, Constellation Energy's combination of diverse plan options, customer-focused services, and commitment to transparency makes it a top choice for anyone looking to manage their energy needs effectively.

Constellation Energy is our top electric company.

NRG Energy, a Fortune 500 company, services over seven million customers across the country—making it a significant player in the energy market. Whether you live in a smaller apartment or a sprawling estate, we like that NRG has a variety of plans to meet diverse needs and preferences. Offerings include fixed- and variable-rate options, as well as innovative plans like free nights and weekends, providing flexibility and potential savings for different lifestyles.

NRG’s plans come with varying terms to suit different energy consumption patterns and priorities. If your environmental impact is a concern, NRG’s got your back. The company is committed to sustainability, with green energy plans that support renewable energy sources. It also offers specialized EV charging plans if you’ve got an electrical vehicle.

• Connecticut
• Delaware
• Illinois
• Maryland
• Massachusetts
• New Jersey
• New York
• Ohio
• Pennsylvania
• Washington, D.C.

If you have solar panels on your new home, you won’t want to miss out on NRG’s solar buy back plans. These plans give you credits of excess energy generated by your solar panels, which adds up to more savings on your monthly bill.

NRG’s rates run a bit higher than other electric companies, but the variety of plans and additional benefits like EV charging and solar buy back options can provide substantial value, potentially offsetting the higher costs. NRG Energy’s commitment to offering diverse and flexible plans, along with their focus on green energy and innovative solutions, makes them a strong contender for households looking to optimize their energy usage and support sustainable practices.

Looking for smart home electricity options?

Energy Harbor is a leader in carbon-free energy and green electricity plans for homes and businesses across multiple states. We like that this electric company focuses on providing reliable, sustainable energy plans and doesn’t get bogged down in complicated terms, rebates, or other incentive programs.

Energy Harbor is also dedicated to sustainability, ensuring that every plan is 100% carbon-free.
If you’re looking to reduce your carbon footprint when you move, Energy Harbor is an easy, environmentally friendly alternative for your energy needs.

Unlike some competitors, Energy Harbor does not offer incentives or promotions, which might be a drawback for consumers looking for additional savings or perks. However, the stability and carbon-free nature of Energy Harbor’s plans may balance out the lack of extras.

Looking for stable prices?

For over 20 years, Green Mountain Energy has been at the forefront of providing clean, renewable energy through solar and wind power. This electric company’s innovative plans let you harness the power of the sun and wind to meet your energy needs. In fact, Green Mountain Energy's commitment to green energy has helped avoid billions of pounds of CO2 emissions—equivalent to planting millions of trees.

With over two decades of experience, Green Mountain Energy is a trusted provider of solar and wind energy solutions, making it easy for customers to transition to renewable energy. Customers who install a rooftop solar system through Green Mountain Energy can benefit from a generous buyback plan and exclusive rebates, maximizing your investment in renewable energy.

• Illinois
• Maryland
• Massachusetts
• New Jersey
• New York
• Oregon
• Pennsylvania
• Texas

We especially like the "Clean and Free All Night" plan that offers free electricity from 8 p.m. to 6 a.m., sourced entirely from wind energy. This unique plan provides substantial savings and promotes the use of renewable energy. But setting up your home for sustainable energy sources can require an investment, which may be a challenge for some new homeowners. Green Mountain Energy has also partnered with Vivint to provide integrated smart home solutions to make your energy consumption even more efficient.

Looking for a sustainable electric company?

Founded in 2005 and based in Houston, Major Energy is a well-established energy service company (ESCO) that offers fixed electricity and natural gas rates, including renewable energy plans tailored to various needs. The company leverages decades of experience in the energy retail marketplace to help residential and business customers manage their energy costs effectively. We also like that customers have access to live customer support, either via phone or online, offering prompt and efficient service.

Major Energy provides competitive fixed and variable rate options for both new and existing customers, ensuring cost-effective energy solutions without hidden games. There are several plans to choose from, with fixed-rate plans that have terms ranging from six to 15 months. There’s also the Secure 12 plan, which offers flat monthly rates and price protection for a term of 12 months. However, there don’t seem to be any month-to-month options for customers looking for more flexibility.

• Connecticut
• Illinois
• Maine
• Maryland
• Massachusetts
• New Jersey
• New York
• Ohio
• Pennsylvania
• Washington, D.C.

If you’re looking to save money and the planet, you may be interested in added benefit of receiving smart home devices when you enroll in Major Energy’s “smart home transformation.” After the first 90 days of enrollment, a new smart device is sent every six months during your selected term—transforming your home into an energy efficient smart home tailored to your needs.

Overall, Major Energy offers a robust range of energy plans with competitive rates, excellent customer support, and strong commitments to renewable energy. However, you should consider the fixed-term nature of some plans and compare with other providers to ensure you get the best possible deal for your specific needs.

Looking for energy bundles?

Constellation Energy is our pick for the best electric company if you live in a deregulated state. It offers a bevy of bill credits and incentives that are helpful after all the costs of a move. Constellation's customer focus and transparent pricing make it an easy choice for any homeowner or renter.

• Fixed-rate plans: These plans offer a fixed rate per kWh (monthly bill may vary based on usage) for the length of the contract—typically 12 to 36 months.
• Green energy plans: These plans use renewable sources such as wind and solar to supply power to your home.
• No-deposit plans: Sometimes called prepaid electricity plans, these plans let customers pay for electricity in advance. With a no-deposit electricity plan, you can avoid credit checks and deposits, and you won’t have to worry about disconnection for non-payment.
• Variable-rate plans: The price per kWh changes monthly.
• Time-of-use plans: Rates vary based on the time of day or season, with higher rates during the day and lower rates at night.

1. Understand your usage. Are you moving into an apartment, small house, medium-sized home, condo, or large house? Home size affects your average electricity usage. Electricity rates are typically based on usage tiers of 500kWh, 1000kWh, and 2000kWh per month. Smaller homes or apartments generally have higher rates due to lower usage compared to larger homes.
2. Know your credit score. Your credit score matters when setting up electricity service. If you have average or poor credit, you might need to pay a deposit ranging from $150 to $300. Alternatively, consider a no-deposit plan where you pre-pay for your electricity.
3. Understand your utility charges. Your local utility company owns and maintains the infrastructure, reads meters, and restores power during outages. Utility charges and fees make up about 30-40% of your electricity bill.
4. Understand the “Terms and Conditions” or the “Electricity Facts Label” (EFL): These documents outline the rates and charges based on usage levels of 500, 1000, and 2000kWh. Make sure to review them to understand the specifics of your plan.

In the 1990s, the federal government introduced competition into wholesale electricity markets, often called "Power to Choose." Since 2002, over 85 million residential and business customers have had access to competitive energy options.

Deregulated electricity markets have three tiers:

• Generators: Produce power and sell it wholesale to retailers.
• Retailers: Sell electricity to residential and business customers.
• Utilities: Manage the distribution and transmission of electricity, maintain poles and wires, read meters, and restore service after outages.

To determine the best electric companies in deregulated states, we conducted an extensive evaluation of over 100 energy providers and analyzed 20,000 customer reviews. Our assessment criteria included:

• Pricing: We compared the rates offered by each provider to ensure affordability and value for customers.
• Rate stability: We examined the stability of rates to identify providers that offer consistent and predictable pricing.
  Customer perks: We considered additional benefits such as bill credits, promotions, and other incentives that enhance customer satisfaction.

Through this comprehensive evaluation, we identified the top five most trusted energy providers in the US.

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