Met-Ed, West Penn, and PECO to Raise PTC Rates!

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Don't pay higher PTC rates! Met-Ed and West Penn Power plus PECO are hiking theirs but you can save money if you switch to a cheap short term plan!
Met-Ed and West Penn Power plus PECO are hiking their PTC rates. But you don’t have to pay them if you switch to a cheaper short term plan now!

Local Utility PTC Rates Increasing

Starting December 1, 2021, several PA utilities will hike their price to compare (PTC) rates. Met-Ed and West Penn Power plus PECO will all be raising their PTC rates higher than before. But don’t get hot under the collar! After all, you can check out other available electric plans. So, let’s see what PA electricity consumers can expect these PTC increases. Then, let’s look at how you can get a better deal on electricity rates in your area.

Met-Ed Increases PTC Rate by 4%

In southeast PA, Met-Ed’s new PTC rate hikes the PTC rate by 4%. Assuming an average PA electricity customer uses 846 kWh per month, customers paying the Met-Ed PTC rate could see their monthly bills breakdown like this:

Charge for 846 kWh Used Monthly Customer Charge Charge Total
Met-Ed PTC
Supply charge:
7.414 cents per kWh
$62.72 0 $62.72
Met-Ed

Monthly Distribution Charges (excluding riders)
4.8 cents per kWh

$40.61 $11.25 $51.86
Total Bill $114.58

 

West Penn Power to Increase Rate by 5%

Meanwhile, out in western PA, West Penn Power is increasing its PTC electricity rates to 5.70 cents per kWh. That means, the average West Penn Power customer could see bills roughly adding up to this:

Charge for 846 kWh Used Monthly Customer Charge Charge Total
West Penn Power
PTC Supply charge: 
5.698cents per kWh
$48.21 0 $48.21
West Penn Power

Monthly Distribution Charges (excluding riders)
3.487 cents per kWh

$29.50 $7.44 $36.94
Total Bill $85.15

 

PECO PTC Rate Bumps Up 6%

PECO is also increasing its PTC rate and doing so by a whopping 6%! So here’s what a PECO bill might look like for December:

Charge for 846 kWh Used Monthly Customer Charge Charge Total
PECO
PTC Supply charge: 6.388 cents per kWh
$54.04 0 $54.04
PECO

Monthly Distribution Charges (excluding riders)
6.609 cents per kWh

$55.91 $9.98 $65.89
Total Bill $119.93

 

Short Term Plans Beat PTC Rates

You don’t have to pay high PTC rates. If you switch to a short term plan now, you can avoid the rate increases. Then, when the plan is ready to end, rates may begin to fall. Going into spring, you could shop cheaper rates.

Check out these two short term plans that right now beat the PTC rate in all three utility service areas:

NRG Electric Choice Plan 3 Month

XOOM Energy SureLock 4

Met-Ed Service Area
PTC Rate: 7.414 cents per kWh
5.80 cents per kWh

21.7% lower

6.65 cents per kWh

10.3 lower

West Penn Power Service Area
PTC Rate: 5.698 cents per kWh
4.90 cents per kWh

14% lower

5.39 cents per kWh

5.4% lower

PECO Service Area
PTC Rate: 6.388 cents per kWh
6.10 cents per kWh

4.5% lower

6.29 cents per kWh

1.5% lower

This all means that depending on where you live, you can save a little or a lot! Either way, you’ll pay less on your monthly electric bills and save money!

Lock in a Low Rate Now

Don’t wait until December’s rate increase to shop around for a new rate. Find a low rate electricity plan now to lock in a cheap price before your local utility hikes its PTC rates.

Visit https://www.paenergyratings.com to check out electric plan options in your area. In addition, you can find out more ways to save money on your electric bill by reading our helpful energy blog!

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