PA Electric Customers See Higher PTC Rates
PTC rates are going up this June. And if you don’t shop for a better rate, your electricity bill is going to follow. With summer temperatures climbing, high electricity rates can cost you a fortune. Here’s how these rate changes are going to affect you, and what you can do to save money this summer.
PTC Rates Climbing this June
According to the EIA monthly usage data for PA, the average monthly residential electricity usage runs about 851 kWh per month. So to show how these PTC rates affect an average monthly electric supply part of the bill, we’ll use that amount. But, since these rates will be effective from June 1, 2023 to August 31, 2023, actual usage will be much higher.
- PECO residential PTC rates will rise from 9.72 cents per kWh to 10.31 cents per kWh. That’s a 6% increase. So average monthly usage will take your electricity supply cost from $82.72 to $87.74.
- Met-Ed residential PTC rates will rise from 9.91 cents per kWh to 10.24 cents per kWh.That’s a 2.4% increase. So this will take your electricity supply cost from $78.21 to $87.14.
- Penelec residential PTC rates will rise from 9.56 cents per kWh to 9.70 cents per kWh.That’s a 1.5% increase. So this will take your electricity supply cost from $81.35 to $82.55
- Penn Power residential PTC rates will rise from 10.43 cents per kWh to 10.55 cents per kWh.That’s a 1.1% increase. So this will take your electricity supply cost from $88.76 to $89.78
- West Penn Power residential PTC rates will rise from 8.22 cents per kWh to 9.92 cents per kWh.That’s a 20% increase. This will take your electricity supply cost from $69.95 to $84.42
- DLC Residential rates will rise 4%, from 8.83 cents per kWh to 9.19 cents per kWh. So this will take your electricity supply cost up from $75.14 to $78.21
- Finally, PPL residential PTC rates are decreasing from 14.61 cents per kWh to 12.13 cents per kWh. That’s 17% lower! So this will take your electricity supply cost from $124.33 to $103.23
PA Lacks Summertime Cooling Assistance
During the winter, there is state protection to prevent your power from being shut off during cold months. This prevents illness, injury, and deaths from exposure to the cold. However, Pennsylvania is the only state in the Mid-Atlantic region without summertime cooling assistance. Without this same protection during the summer months, failure to pay your electricity could result in your power being shut off. This leaves vulnerable people suffering in dangerously high temperatures.
A a result of rising summertime electric cost, lawmakers have proposed House Bill 1077 to help PA resident struggling to meet rising electricity rates. The bill also includes consumer protections, such as eliminating utility deposits for customers.
Shop and Save to Avoid Higher PTC Rates
If you want to avoid hight PTC rates, it’s time to shop for the switch electricity providers offering best electricity plan for you. Shopping a new low rate could save you nearly $50 a month. And you can compare plans, read reviews, and shop for providers all on one convenient website. So if you’re ready to compare and save, visit https://www.paenergyratings.com/