Save on Summer Electric Rates
High prices from this past summer’s PJM capacity auction are driving up your summer electric rates. On June 1, price to compare rate hikes are kicking in. Unfortunately for PECO customers, your rates are going up by over 5%! Which makes now the perfect time to shop and save.
Shopping for a short-term fixed-rate electricity plan can save you money for the months ahead, and free you from worrying about your electricity bill. And, getting a short-term plan now gives you have the chance to shop for a lower priced plans in the fall. So check out these plans to find the best short term electricity rate for you!
Benefits of Short Term Plans in Philly
As mentioned, the PJM capacity auction results are driving up the PECO PTC rate this summer. But you can avoid this by shopping fixed rate plans. However, the standard 12 month plan may not be your best choice! Your plan would expire next summer, when prices may be higher. A shorter term length, like a 6 month plan, would expire near in the fall when rates usually dip. That’s a perfect time to lock in a low price for the year!
In addition, if you’re planning to move or make other big financial decisions, a shorter term length would present less hassle. Not to mention, the shorter contract lengths tend to provide some great deals.
Best Short Term Summer Electric Rates
Starting on June 1, 2026 the new PECO PTC rate is going to be 11.572¢ per kWh. So, assuming the average monthly electricity usage is about 854 kWh, that’s around $99 a month for the supply charge alone. But due to summer weather, your usage may be higher! So, we have several short-term PECO electricity plans that will help you save money.
First up is our lowest rate, from the Xoom Energy SureLock 6 plan. This plan comes in at 11¢ per kWh, so energy supply costs will run about $94 per month. Moreover, through their XoomXtras rewards program, you can earn points to spend on anything from gift cards to vacation stays that make up for the higher rate. And there are no monthly charges! However, there is an early termination fee of $55 to bear in mind.
Next, we have Clearview Energy. Their Clear Guarentee 6 plan comes in at 11.5¢ per kWh, bringing your total to $98 a month. This plan also comes with their Clearview Energy Rewards program, where you can earn points to spend on discounts and to participate in giveaways. And if that’s not enough for you, they have other plans that offer free nightly electric vehicle charging through their EV program. Also, be aware that this plan has a $150 early cancellation fee.
Finally, we have a great renewable energy plan from Inspire Clean Energy. Their Inspire Fixed 6 plan comes in at 11.5¢ per kWh, bringing your total to about $98 a month. And for this price, you gain 100% renewable energy supported by renewable energy certificates (RECs). And as a bonus, there’s no additional monthly charges or early termination fees to worry about.
Shop and Save this Summer
With higher PTC rates almost here, now is the time to shop for a better electricity plan. And these plans shield you against rising rates not just for this summer, but for months afterward. Thankfully, shopping with PA Energy Ratings the find the best energy supplier is easy! You can compare rates, read reviews, and more. Just visit https://www.paenergyratings.com.