Will PA Electric Utility Rates Rise this Summer?
Your electric utility rates are going to be hot this summer! This June, PTC rates rose up by 16% for some utility customers! It’s due to a variety of factors. Most notably, last year’s PJM summer capacity auction sent electric utility rates skyrocketing. But on top of that, natural gas prices are bouncing widely due to proposed tariffs and conflicts in the Middle East. Thankfully, you still have options that can still help you shop and save on electricity rates!
PJM and Grid Upgrades Driving Up Electricity Prices
Rate hikes from PJM’s capacity auction last summer are the main drivers for recent price increases. The main for high auction prices is that PJM has been slow to add new power plants to the grid. As a result, there are fewer power plants available to make power. So, electric bills for the 65 million people served by PJM have gone up this summer to cover that cost.
But there’s other factors causing high electricity bills. For example, instability in the natural gas market, infrastructure improvements, and increasing power demand from data centers have all contributed. When combined with NOAA predicting summer weather predicted to be hot and humid, the higher AC demand is bad news.
Current Utility PTC Rates
Assuming an average energy use of 1000 kWh per month, Price to Compare utility rates can cost you over $100 alone.
| Utility | Price to Compare Rate ¢ per kWh | Estimated Supply Charge for 1000 kWh |
| PECO | 10.400 | $104 |
| PPL | 12.491 | $125 |
| MetEd (First Energy PA) | 11.903 | 119 |
| Penelec (First Energy PA) | 11.003 | $110 |
| Penn Power(First Energy PA) | 11.857 | $118.57 |
| West Penn Power (First Energy PA) | 10.317 | $103.1 |
| DLC | 12.1930 | $122 |
PA Electric Rates Still Beat Monopoly Supply Rates
But there’s good news as well. A recent report found that the power of PA Electric Choice is working.The report showed that the average lowest fixed-rate plan available in major service areas was lower than 1996 monopoly rates. In three of these, prices were lower even before adjusting for inflation! So, the market is working! In fact, customers who shop can save $14-$20 a month on electricity.
To begin with, PPL customers could consider the Major Energy Secure Choice 12 plan. Specifically, this new customer offer comes with no early termination fees or monthly charges, offering ultimate flexibility. Also, it’s our lowest available 12 month rate, starting at just 11.99 cents per kWh. For this reason, the monthly supply cost runs around $117.38 a month.
Also for southeastern PA, PECO customers can check out Think Energy. Basically, their Think Basic 6 plan comes in at 9.90 cents per kWh, running you about $99 a month in energy supply costs. However, in addition to having no monthly charges or early termination fees, Think Energy offers a referral program. Specifically, their Free Energy Club offers rebates for referring friends to the company, earning you a discount on your bill.
Shop and Save on PA Electricity
So don’t get burned by high electric bills! You can shop plans, review providers, and more all on one convenient website. Find the best plan for your home with us. Visit https://www.paenergyratings.com to explore the various electric plans in your area.