Save with These Electric Deals in Philly
Spring has sprung! And unfortunately, some utility rate hikes are following right behind. This past summer’s PJM capacity auction results mean we’re going to see rate hikes this June. So, PECO PTC rates could climb up by 2 cents! Thankfully for energy consumers in Philadelphia looking for cheap electricity, you still have time to lock in savings. Here are just a few electric deals for you to check out!
Shop Smart in Philly
The current PECO PTC rate is 11.024¢ per kWh. Assuming the average monthly electricity usage is about 854 kWh, that’s around $94 a month for the supply charge alone. However, that rate expires on May 31, 2026. And as a result, the PTC rate that follows will include the higher prices from last summer’s PJM capacity auction. If the PTC jumps just 2 cents per kWh on June 1 like it did last year, the average monthly supply charge would go up to nearly $112.00.
Now, some plans we recommend here may have rates that are currently a little higher than the PTC rate. But, by locking in those rates now, they will likely be much cheaper than those starting on June 1. And if you can lock in those savings now, you’ll be protected from rising electricity rates until next spring when prices may lower. So let’s dig into some plans!
Electric Deals to Save You Money
First up is a new customer offer from Direct Energy. Their Live Brighter 18 plan starts at 12.7 cents per kWh. So, your monthly energy supply bill would be about $108. Additionally, there aren’t any early termination fees or monthly charges to worry about. And as a bonus, Direct Energy has a Refer-A-Friend program. For every friend you refer who becomes a Direct Energy customer, you can both get $50.
Next we have two great options from Public Power. Their Electric 15 Month Standard Fixed Rate is our second cheapest 15-month rate. And because it is a 15 month rate, it will not change this summer, unlike PECO. Coming in at 12.9 cents per kWh, the estimated monthly supply charge runs about $110. However, if you want a longer term length, consider their Electric 20 Month Standard Fixed Rate. This plan is even cheaper, at 12.7 cents per kWh, or $108 a month. Both plans come with no monthly charges, but do have a $50 early termination fee to be aware of.
Finally, we have two plans from our #1 customer rated provider, Energy Harbor. Their Safe Harbor Value 20 plan is 12.6 cents per kWh, bringing your estimated monthly energy supply costs to $107. But if that’s too long of a term length, they also offer the Safe Harbor Value 15 for 12.8 cents per kWh, or $109 a month. Both plans come with no monthly charges or early termination fees. As well as customer service guaranteed to please you.
Shop and Save on Electricity in Philly
Locking in a low priced rate right now can save you even more further when summer rates rise. And we’re here to make shopping for an electricity plan easy. Read reviews, compare providers, and more all at https://www.paenergyratings.com