Utilities Raising Rates, Heating Up Your Summer
Summer is nearly here, so PTC rates are on the rise. And some of these prices are sweltering hot. DLC has already raised their rates. And now PECO and FirstEnergy are raising rates, too! It’s your last chance to take advantage of low spring electricity rates. This summer is going to be a scorcher, which means electricity prices will continue to rise. And pretty soon, everyone is going to feel the heat.
PECO Electricity Rates Are Sizzling
PECO has filed to raise both commercial and residential generation supply adjustment charges starting June 1, 2023. While the final PTC rate has yet to be announced, GSA charges make up the bulk of PTC rates. Residential GAS rates will be going up by 4%, from 8.99 cents per kWh to 9.39 cents per kWh. That’ll increase your average bill from $80.91 to $84.51. And when the final PTC rate is released, your bill will likely increase further.
FirstEnergy Raising Rates: Too Hot to Handle
FirstEnergy customers can expect high bills this summer. They have also filed to raise commercial and residential PTC rates starting June 1, 2023. And West Penn Power customers are really getting burned. Rates are skyrocketing up to 20% for their residential customers. And for commercial customers in West Penn Power, rates are going up by a blistering 45%. Check this breakdown FirstEnergy residential rates.
At Met-Ed, the residential PTC rate will rise from 9.91 cents per kWh to 10.24 cents per kWh.That’s a 2.4% increase. This will take your average bill from $82.71 to $92.16.
Next at Penelec, the residential PTC rate will rise from 9.56 cents per kWh to 9.70 cents per kWh.That’s a 1.5% increase. This will take your average bill from $86.04 to $97.30
Then at Penn Power, the residential PTC rate will rise from 10.43 cents per kWh to 10.55 cents per kWh.That’s a 1.1% increase. This will take your average bill from $93.87 to $94.95
Finally at West Penn Power, the residential PTC rate will rise from 8.22 cents per kWh to 9.92 cents per kWh.That’s a 20% increase. This will take your average bill from $73.98 to $89.28
On the commercial side, FirstEnergy is raising rates even more steeply:
At Met-Ed, the commercial PTC rate will rise from 8.67 cents per kWh to 10.67 cents per kWh.That’s a 23% increase.
Next at Penelec, the commercial PTC rate will rise from 9.16 cents per kWh to 11.03 cents per kWh.That’s a 20% increase.
Then at Penn Power, the commercial PTC rate will rise from 10.81 cents per kWh to 12.89 cents per kWh.That’s a 19% increase.
Finally at West Penn Power, the commercial PTC rate will rise from 7.52 cents per kWh to 10.95 cents per kWh.That’s a 45% increase.
Don’t Sweat Rising Electricity Rates
Even though it’s one month away, it’s not too late to avoid these raising rates. So now is the time to shop for a low electricity rate. Even the PUC recommends customers shop for a better rate. But you want to hurry to beat that June 1 deadline! Plus, summer heat brings high electricity usage, driving up prices. So shop for cheap rates before prices rise again! Find the best electricity plan for you and save all year long with https://www.paenergyratings.com