First Energy PTC Rates Rising this Winter
By now most Pennsylvania utilities have announced their new PTC rates starting on December 1st. And it’s not looking good for First Energy customers. Rates usually rise during the winter, especially when usage is up. Natural gas prices are much lower than last winter but they have been slowly trending upwards. As a result, some utilities will see rising PTC rates this winter. So, let’s find out what your utility is doing, and how you can find the best electricity rate.
PTC Rate Changes Coming in December
While several utilities are actually decreasing prices, all First Energy utilities in PA are increasing their PTC rates. So here are the PTC rate changes you’ll see starting December 1st.
- Duquesne Light is estimated to decrease from 11.45 cents per kWh to 10.46 cents per kWh
- PECO is estimated to decrease from 9.672 cents per kWh to 8.919 cents per kWh
- PPL will decrease from 12.126 cents per kWh to 11.028 cents per kWh
- Penelec (FirstEnergy) will increase from 9.703 cents per kWh to 10.607 cents per kWh
- Penn Power (FirstEnergy) will increase from 10.556 cents per kWh to 11.231 cents per kWh
- Met-Ed (FirstEnergy) will increase from 10.24 cents per kWh to 11.306 cents per kWh
- West Penn Power (FirstEnergy) will increase from 9.929 cents per kWh to 10.001 cents per kWh
PUC Wants You to Shop and Save
The Pennsylvania Public Utility Commision has posted warning people to be aware of the upcoming rate changes. And so, their advice? To shop for a better electricity rate!
With that in mind, here are a few electricity plans that beat rising First Energy PTC rates based on average monthly bills in PA. Remember that your usage will likely be higher due to the coming winter weather.
Firstly if your utility is Penn Power, consider the Xoom Surelock 12 plan. This 12 month fixed rate plan is only 9.89 cents per kWh. So compared to the new PTC rate of 11.231 cents per kWh, you could save nearly $12 a month. That’s $144 a year! And there are no monthly charges to worry about. However there is an early cancellation fee of $110 to be aware of.
Next if your utility is Penelec, check out the APG&E True Simple 12 plan. This 12 month fixed rate plan is only 9.14 cents per kWh. So compared to the new PTC rate of 10.607 cents per kWh you could save nearly $13 a month. That $156 a year! There is a monthly charge of $1.99 and an early cancellation fee of $150 to be aware of. But you can’t beat those savings!
Finally, if your utility is Met-Ed check out the Energy Harbor Safe Harbor 13. THis 13 month fixed rate plan is the cheapest on our list at only 8.99 cents per kWh. Compared to the new PTC rate of 11.306, you could save nearly $20 a month. That’s $237 a year! There’s a monthly charge of $9.99 to be aware of. But with no early termination fees, you can always shop for a better deal.
Avoid Rising PTC Rates with PA Energy Ratings
With First Energy raising their PTC rates, the best way to avoid unwelcome changes is by shopping for a better rate. If you want to find a reputable electricity provider, read reviews, and get the lowest electricity rate, the best place to shop is https://www.paenergyratings.com.