HARRISBURG, Pa. (WTAJ) — The Pennsylvania Public Utility Commission (PUC) is warning consumers that most utilities will be adjusting their prices for electricity generation as high as 45 percent.
On June 1, many non-shopping (default service) customers will see “sharp increases” in their electric bills ranging between 6 percent and 45 percent depending on their electric utility, according to the PUC. Pennsylvania’s regulated electric utilities adjust what’s known as the “price to compare” (PTC), which is the default price non-shopping customers are charged, either quarterly or biannually.
Electric distribution companies reported the following changes for residential customers:
- Citizens’ Electric, up from 7.3995 cents to 9.3667 cents per kWh (26.6 percent)
- Met-Ed, up from 6.832 cents to 7.936 cents per kWh (16.1 percent)
- Penelec, up from 6.232 cents to 8.443 cents per kWh (35.4 percent)
- Penn Power, up from 7.082 cents to 8.694 cents per kWh (22.7 percent)
- PPL, up from 8.941 cents to 12.366 cents per kWh (38.3 percent)
- Wellsboro Electric, up from 7.7569 cents to 9.592 cents per kWh (23.7 percent)
- West Penn Power, up from 5.667 cents to 8.198 cents per kWh (44.6 percent)
Regulators said customers should act now to compare prices and consider shopping with competitive supplies and energy options via PAPowerSwitch.com.
“The upcoming price changes, combined with the increased use of electricity typically seen during the long, hot days of summer, make this a very good time for consumers to evaluate their energy options,” the PUC said in a statement. “Between now and June 1, the PUC encourages consumers to carefully review their electric bills to understand the rates they will be paying – and explore the PUC’s official electric shopping website for details on competitive offers, along with tips for energy conservation and savings.”
The PUC said higher wholesale market prices for electricity, which are fueled by shifts in supply and demand for natural gas, have increased purchasing costs for electric distribution companies (EDCs) and thus driven up many PTCs.
By law, it’s reported utilities cannot make a profit on electric generation as generation costs are simply passed through to utility customers. PTC averages 40 to 60 percent of the customer’s total utility bill. However, this percentage varies by utility and by the level of individual customer usage.
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For more information or tips on how to save on your electric bill this summer, visit the PUC’s website at puc.pa.gov.