PTC Rates Are on the Rise
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High price to compare (PTC) rates can be shocking for customers. If you have an electric plan with a local utility provider, the PTC rate is the price per kWh that you pay, and this rate is ever-changing. With the volatility surrounding natural gas prices, you likely don’t want to take a chance of facing uncertain rates. There’s also been some buzz surrounding the future increase of PTC rates with different companies. Duquesne Light Company will raise its PTC rates soon and as their rates rise, we’re wondering who’s next?
DLC PTC Rates Increase December 1
Duquesne Light Company (DLC) will raise its residential default supply charge rate for the period from December 1, 2022, to May 31, 2023 from from 6.9395 cents per kWh to 8.8349 cents per kWh. The default supply charge is part of the utility’s PTC rate. Therefore, when these supply charges increase, it’s likely the overall PTC rate does, too. And with the fluctuating natural gas prices and the DLC PTC rate changing every six months, you can’t ever be comfortable thinking your rates will stay low. That is unless you lock in a low fixed rate with an electricity company.
Other Companies May Raise Rates
Does the DLC rate increase suggest a growing trend among other PA utilities? Perhaps. For example, PECO just announced it would raise its generation supply adjustment (GSA) charge on December 1, 2022, to 9.128 cents per kWh, which is a 17% increase from the current 7.780 cents per kWh rate. Also, results from the First Energy default electricity supply auction are not yet available. The same issue faces PPL customers. So, there’s still lots of uncertainty and dread.
How to Avoid Rate Increases
The best way to avoid surprise rate increases is to sign up for a fixed rate electricity plan. Fixed rate electricity plans let you lock in a rate for a specific term which can shield you from these and other PTC increases. You’ll find electricity plans with various terms so you can choose a short-term plan or a longer term option. And with recession worries a constant fear these days, it’s essential to take any available steps to keep your energy costs low.
Secure the Best Rate Now
Don’t wait until your PTC rates increase further! Lock in an electrifying low rate today by viewing available electric plans at https://www.paenergyratings.com. You can check out low price plans and learn more about the companies that provide them. You’ll also find some helpful energy saving tips to keep in mind as you power your home.