Your PTC Electric Rates Jump September 1

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PTC electric rates are going up for First Energy and PECO customers. Find out how to cut the cost of your monthly PA electric bills!
FirstEnergy utilities and PECO are raising their Price to Compare rates in just a few weeks! Find out how you can shop now to find a lower rate and save!

PTC Electric Rates Increase September 1

The heat is rising in Pennsylvania and your electricity rates may be increasing, too! In fact, the summer natural gas prices in the United States are the highest they’ve been since 2014. And because natural gas is used to generate electricity, two PA utility companies will be raising most of their price-to-compare (PTC) rates! If you are a First Energy or PECO customer, buckle your seatbelts because it’s likely your PTC electric rates jump September 1!

First Energy Rates on the Rise

First Energy’s utility companies in PA will increase their PTC rates as follows:

  • Met-Ed: rising to 7.11 cents per kWh as compared to the current 6.69 cents per kWh
  • Penelecrising to 6.76 cents per kWh as compared to the current 6.46 cents per kWh
  • Penn Power: rising to 7.66 cents per kWh as compared to the current 7.20 cents per kWh

 

Only West Penn Power will actually reduce their rates. Their’s drops from the current 5.71 cents per kWh to 5.45 cents per kWh.

PECO to Raise Electric Rates

PECO will also raise its PTC rate starting September 1. The new PTC rate will be 6.60 cents per kWh, as compared to 6.40 cents per kWh. If you’re a current PECO customer, now’s a good time to see what other electricity options are out there. After all, their PTC rate changes every quarter. And with electricity retail prices expected to continue rising, it’s a good idea to consider all options.

Shop Around for a Lower Electric Plan Rate

Because natural gas prices are rising, you want to lock in a good rate now. You still have time to shop for a new electricity plan before your First Energy and PECO PTC electric rates jump. When you start the search for your new electricity plan, consider the following:

  • Term length
  • Electricity rate
  • Whether it’s an introductory rate or permanent fixed rate
  • Early termination fee attached to plan
  • Recurring monthly charges on plan
  • Price compared to PTC rate of local utility provider
  • What happens when your electricity contract expires
  • Rewards program and other incentives

By checking out your electricity plan options with these factors in mind, you can pick the right electric plan for your household.

Find Your New Electric Plan Today

Now’s the perfect time to find a new electricity plan so you don’t freeze when you see your electricity bill’s new PTC rate. Visit https://www.paenergyratings.com to view available electricity plans and rates in your area. You’ll also be able to check out details on each electricity company through customer reviews.

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