PA Utilities Update PTC Rates
PTC rate changes are coming March 1, 2024. And two utilities have already filed with the Pennsylvania Public Utility Commission (PUC) to change their electricity rates. More could follow. But for now, PECO and DLC customers will want to pay attention! We’ll explain the changes and also how you can save on your electricity rate.
PECO Raising Rates Next Month
PECO has filed with the PUC to raise their residential Generation Supply Adjustment (GSA) beginning next month. While this doesn’t reflect the final PTC rate, the GSA is the largest part of PTC rates. If approved, PECO customers can expect a 6% increase, from 8.06 cents per kWh to 8.568 cents per kWh. However, general service, high tension power and primary distribution power customers will all see their GSA rates lowering by about 4%. These new rates would remain effective from March 1, 2024 through May 31, 2024.
Currently, the PECO residential PTC rate is 8.917 cents per kWh. So, assuming an average monthly electricity usage of 854 kWh, you’re paying around $76.15 a month for your PECO supply rate. We can do better than that!
Public Power has two great plan options for you. First up is their Electric 9 Month Standard Fixed Rate. This plan is only 7.19 cents per kWh. So you could save about $15 a month compared to the current PECO PTC rate. That’s $135 in 9 months! Alternatively they also offer their Electric 12 Month Standard Fixed Rate plan. This plan is 7.79 cents per kWh, saving you about $10 a month. That’s over $120 in a year! Both plans come with no monthly charges, but there is an early termination fee of $50 if you leave the contract early.
DLC Lowering Electricity Rates
Meanwhile, DLC has filed with the PUC to lower their commercial GSA. We point this out now because DLC has a habit of changing their commercial rate before their residential rates. So if you’re watching rates to save money for your home, pay attention. Medium commercial and industrial customers will see their rates lowering from 9.149 cents per kWh to 6.376 cents per kWh. That’s a 30% decrease! And if approved, this will remain effective March 1, 2024 through May 31, 2024. With such a dramatic decrease for commercial customers, a decrease for residential customers is likely to follow.
Currently the Duquesne Light Company residential PTC rate is 10.46 cents per kWh. While it’s harder to know how low the DLC rate might go, you can still save with these two great plans! First we have Santanna Energy Services and their Fixed Rate Electricity 12 plan. With the current DLC PTC rate, you can expect to spend around $90 a month in energy supply costs. This plan is only 8.59 cents per kWh, costing you around $75. That’s $15 a month in savings, or $180 in a year! And with no monthly charges. There is an early cancellation fee of $120 to be aware of however.
Alternatively, you can check out Frontier Utilities and their PA Frontier Secure Power 12 plan. This plan is the same rate as our previous one, 8.59 cents per kWh, so it will also only cost you around $75 a month. This plan does include a $9.95 monthly charge, so you’ll be saving around $5 a month compared to the current PTC rate. However, there are no early cancellation fees. So you get flexibility without paying a penalty if you need to leave the contract.
Lock in Rates Lower Than PA Utilities
Thankfully you have other options for your PA electricity instead of putting up with changing PTC rates. There are plenty of great options to help you save you money over the long term. If you want to shop even more great low electricity rates, read reviews, or compare plans then visit https://www.paenergyratings.com.