Some PA Utility PTC Rates Rise in March
Spring is almost here! With the warming weather, we could usually expect a drop in natural gas prices. But due to winter cold snaps, natural gas prices have surged. In addition, due to rising electricity auction prices with the PJM Interconnection, your electric rates will go up this summer. To help you save more, we’re going to cover what each PA utility PTC rate is and when it expires. And in addition, how you can find the cheapest electric rates this spring.
PA PTC Rates and Future Rate Changes
First let’s review the current PTC rates. Not everyone uses the same amount of electricity. So, we’ll be comparing prices based on the average energy use of 854 kWh per month. Of course, your usage might be higher due to winter weather. (Note: all First Energy PA rates will expire June 1, 2025.)
- PECO residential PTC rates will be dropping slightly on March 1, 2025. The PTC rate will fall from 9.287 cents per kWh to 9.239 cents. You bill will show about $78.90 a month in electricity supply.
- PPL residential PTC rate is currently 10.771 cents per kWh, costing you around $91.98 a month in electricity supply. This rate expires on June 1, 2025.
- MetEd (First Energy PA) residential PTC rates are currently 11.011 cents per kWh. That’s around $94.03 a month in electricity supply.
- Penelec (First Energy PA) residential PTC rates are 10.474 cents per kWh. That converts to around $89.45 a month in electricity supply.
- Penn Power(First Energy PA) residential PTC rates are currently 11.168 cents per kWh. That’s about $95.37 per month.
- West Penn Power (First Energy PA) residential PTC rates are currently 9.481 cents per kWh, costing you around $80.97 in electricity supply.
- DLC Residential rates are currently 10.85 cents per kWh. Billed electric supply costs should be around $92.66 a month.
Save More Than the PTC Rate
Since natural gas prices could rise this summer, PTC rates would likely increase as well. So, now is the time to shop for the best energy supplier with the best fixed rate plan.
For instance, if you’re a MetEd customer, You may want to check out the XOOM Energy SureLock 6 plan. This 6-month fixed rate comes in at only 10.59 cents per kWh. As a result that brings your monthly energy supply costs to around $90.44 a month. There is an early termination fee of $55 but there are no monthly charges. This 6 month term carries you through the pricy summer months and into fall. And that is also a great time to shop!
Penelec customers can check out the Direct Energy Live Brighter 7 plan. This great plan comes in at only 10.39 cents per kWh, or a supply cost around $88.73 a month. And with no monthly charges or early termination fees! Lastly, the term ends just in time to shop for a lower rate this fall.
DLC Making Other Rate Changes
DLC is going to be testing out a Time of Use rate option for PTC customers. For customers who enroll, DLC will charge more for electricity used during peak hours, and less for electricity used during off hours. Since rates are based on electricity demand costs, it allows customers to adjust their electric use to save money. DLC will use three separate rate periods: peak hours, off-peak hours, and finally super off-peak hours.
Shop to Avoid a Rising PTC Rate
The best way to avoid high bills in the warm months is to secure a good rate. And we have plenty to choose from! Plus, you can read reviews, compare providers, and find the best plan for you all in one place. So don’t wait for prices to skyrocket, shop now! Visit us at https://www.paenergyratings.com