Ohio businesses face utility power rates about 50% above average

A new Ohio Energy Ratings survey says the state’s six investor-owned utilities charge commercial customers about 50% more than the statewide average, with rates up 27.68% since April 2024. The findings suggest many businesses paying their utility’s default service offer could lower costs by shopping for a retail electricity provider.

Why it matters: - Ohio businesses on utility default service are facing commercial electricity rates that can run far above the statewide average. - The gap matters most for companies with steady monthly usage, where even small per-kWh differences can add up to hundreds of dollars a month. - The survey says businesses switching from a utility’s Standard Service Offer to a certified retail electricity provider can often save up to 50%.

What happened: - OHEnergyRatings.com released a survey saying Ohio’s six investor-owned utilities charge commercial customers about 50% above the statewide commercial average. - The survey says Ohio commercial electricity rates climbed 27.68% from April 2024 to April 2026. - The report was published Aug. 4, 2026, and is available in full here.

The details: - The U.S. Energy Information Administration put Ohio’s average commercial electricity rate at 10.69 cents per kWh in April 2024 and 13.65 cents per kWh in April 2026. - That increase ranks Ohio fourth nationally for the largest percentage increase in commercial electric rates. - The national average commercial electricity price reached 13.51 cents per kWh, up 6.71% from 12.66 cents since April 2024. - The report links higher prices to tight energy supplies in the PJM grid, higher capacity auction results, rising transmission costs, maintenance needs and storm damage repairs. - The statewide Ohio average includes the six investor-owned utilities plus 32 co-ops and municipal utilities. - Investor-owned utilities serve nearly 90% of Ohio electricity customers, but co-ops and municipal utilities usually charge less, which lowers the statewide average. - OHEnergyRatings.com said the six investor-owned utilities averaged 16.06 cents per kWh in 2024. - The report said those utility rates ranged from 11.63 cents per kWh at Duke Energy to 18.59 cents per kWh at Illuminating Company. - Based on the same percentage increase, analysts estimated 2026 rates at 20.50 cents per kWh on average across the six utilities, with Illuminating Company near 23.74 cents. - A business using 6,000 kWh a month in 2026 would face a bill near $1,230, about $300 more than in 2024.

Between the lines: - Commercial bills are driven mainly by the energy supply rate, unlike residential bills where delivery charges make up most of the cost. - That means businesses staying on a utility default rate may be paying more than needed if they have not compared supplier offers. - The statewide average can mask the higher prices charged by investor-owned utilities because lower-cost co-ops and municipal systems pull the average down.

What's next: - Ohio business owners are likely to face more pressure to shop around as commercial rates stay elevated. - The survey recommends comparing Ohio energy suppliers and switching to a certified retail electricity provider when possible. - Lumanex LLC, which operates OHEnergyRatings.com, says its energy shopping network covers 11 states and 56 utilities and serves more than 58 million residential and commercial customers.

The bottom line: - Ohio’s default commercial power rates are rising fast, and businesses that do not compare options may be leaving substantial savings on the table.