Can you afford not to switch to new electricity supplier?
Why is PECO raising my rates, again?
Across Pennsylvania, electricity suppliers reduced their rates as natural gas rates declined. Since then, Pennsylvania’s Powerswitch customers have been watching their electricity rates fall.
Last year, cheap natural gas prices forced Philadelphia electricity rates lower. PECO, Philadelphia’s local electric utility, had to lower it’s standard rate for residential generation supply last June 1 to 6.98 cents per kilowatt-hour.
But this past Tuesday, April 17, PECO filed a request with the Pennsylvania Public Utility Commission to increase the Generation Supply Adjustment (GSA) charge by 3.4% for residential customers from the current 6.401¢/kWh to 6.619¢/kWh on June 1.
Price to Compare Could Cost You More
The GSA, which is labeled as “generation charge” on customers’ monthly bills, is the largest component of the Price to Compare (PTC).
Fortunately, PECO’s PTC customers have been spared the sudden rate hike as the PUC voted unanimously two days later to investigate PECO’s request. The motion automatically suspends PECO’s request for up to seven months from the time PECO wanted the increase to take effect.
The question of the rate hike now goes to the Office of Administrative Law Judge where it will be investigated and then make a recommendation. A final decision by the commission is due by Dec. 28, 2018.
This rate increase comes hot on the heels of another PECO request. The utility filed to increase electricity delivery charges by 2.2% starting on January 1, 2019.
If you’re a PECO standard rate customer looking to change electric suppliers, now is a great time to shop for a better deal. Just click on over to https://www.paenergyratings.com/electricity-rates and you can lock in a low priced, long term rate plan that will save you money.