First Energy Hiking PTC Rates in PA
First Energy announced on April 2, 2024 that they will be requesting rate hikes for all their PA utility companies. First Energy says it requested rate hike is for grid improvements and maintenance. If approved by the PA PUC, the changes will start on June 1, affecting more than two million customer’s bills. But don’t resign yourself to paying higher First Energy rates! You can shop for the cheapest electric rates and avoid these higher prices. And now is a great time to switch providers!
How Much Will New First Energy Rates Cost?
First Energy’s rate request totals $502 million across its four Pennsylvania rate districts. But how much could that cost your household? These estimates from First Energy all assume you use 1,000 kWh a month, so your exact increase will vary.
- Met-Ed is requesting a 9.2% increase. So, about $17.31 monthly bill increase.
- PenElec is requesting a 9.8% increase. So, about $19.79 monthly bill increase.
- West Penn Power is requesting a 10.6% increase. So, about $16.61 monthly bill increase.
- Penn Power is requesting a 11.8% increase. So, about $21.30 monthly bill increase.
If you want to avoid these rate hikes and save on your electricity bill, your best option is to shop for a better rate!
How To Avoid Higher First Energy Rates
Here’s some fantastic electricity plans for First Energy customers that you’re sure to love. All of the estimates used are based on the average monthly electricity usage in PA of 854 kWh.
If you’re a Met-Ed customer, check out the Public Power Electric 12 Month Fixed Rate WITH MRC plan. At 8.69 per kWh, your monthly energy supply bill would be about $74.22. That’s $22 cheaper per month compared to the current PTC rate. This plan does have a monthly $9.95 charge and an early termination fee of $50 to be aware of. But, overall you’re still saving $12 a month, or $144 a year!
PenElec customers, look into the Direct Energy Live Brighter 12 plan. At only 9.09 cents per kWh, your monthly energy supply bill would be about $77.63. Compared to the current PTC rate, you’re saving $13 a month, or $156 in a year! And no extra charges or fees to worry about.
If you’re a West Penn Power customer, we have a great green energy plan for you! The Verde Energy Clean Power 12 plan is only 8.49 cents per kWh. So that’s a monthly energy supply bill of about $72.50. Compared to the current PTC rate, you’d be saving $13 a month, or $156 in a year! And without additional charges or fees for you to worry about.
Finally, Penn Power customers chould consider the Constellation 12 Month Home Power plan. At 9.49 cents per kWh, your monthly energy supply bill would be about $81. So compared to the current PTC rate, you’d be saving around $15 a month. That’s $180 in a year! However, there is a $150 early termination fee to be aware of.
Shop and Save on Your PA Electricity Rates
Electricity rates may rise again this summer. Add in these rate hikes, and it’s not looking good for your wallet. Locking in a low rate now could save you money for a long time to come! We’re here to make shopping for an electricity plan easy. Read reviews, compare providers, and more all at https://www.paenergyratings.com