Lowest 2024 PPL Electric Rates to ComparePPL Electric Rate Savings Potential by ElectricRate
Finding a electricity rate in the central Pennsylvania area serviced by Pennsylvania Power & Light (PPL) that is lower than the published price to compare is easier than it has ever been in the past. As the market has matured consumers have become more familiar with the process of seeking out and finding the lowest PPL electric rates at any given time.
Rising PPL Default Rate
The combination of high default rates with some of the lowest wholesale energy rates in history has allowed competitive suppliers to offer rates to PPL customers with significant discounts. On top of the large price discrepancy, online energy shopping sites make it easy for consumers to shop for the lowest PPL electricity rates being offered by licensed suppliers.
Delivering power to 1.4 million residential customers and roughly 200,000 commercial, PPL is also responsible for proving a default power generation rate for their customers who do not compare lower electricity supplier offers. The PPL price to compare rate, the default rate, is determined by a series of auctions held in advance of the rate going into effect.
When wholesale energy prices drop after the auction is completed, a window of time is presented for competitive electricity suppliers to offer fixed rate contracts to customers that are below the price to compare rate. During this window customers can lock in a rate that will save them money on their PPL electric bills. Shopping activity increases the most when the competitive rate savings are higher versus the PPL price to compare rate.
Best Long Term Fixed PPL Electric Rates
In addition to immediate savings, many customers are willing to lock in their rate for up to three years in order to avoid the volatility that has come with the default price. Since 2006 the PPL default rate has varied from a low of $0.0556 to a high of $0.14612.
It is anyone’s guess as to where the PPL default rate will be in the future. For many, securing a low electric rate provides a peace of mind that outweighs the potential of the default rate going even lower.
Value of a Electricity Price Comparison SiteWhat to Compare when shopping for electricity by ElectricRate
Using an energy price comparison site allows customers to measure different offers against each other to make sure they are getting a fair price. Pennsylvania electricity choice gives the consumer multiple options; the best option isn’t the same for everyone.
Term of Electric Rate Contract
While one person might be looking for the lowest possible PPL electric rate another might be looking for a balance between low price and long term rate security. Electricity comparison sites provide a consumer a platform to compare all of these choices and more in one easy place.
Cheapest Electric Rate
If all a consumer cares about is the price, the comparison site will allow that person to find the cheapest and lowest electric rate at any given time. In some cases the cheapest electric rate may only be able to be locked in for a few months due to wholesale market conditions.
Early Termination Fee
PPL electricity rate shoppers should know what the early termination fee is for the contract the choose. A customer might be willing to pay a slightly higher price per kWh in return for an inexpensive or even $0 amount on the early termination fee.
If you choose your low electric rate plan through ElectricRate.com the site guarantees that their customers are not hit with an early termination fee during the switch process if they have signed their current plan through the site.
Electric Rate Energy Source
If you are a PPL customer you can choose a plan based on how the power is generated. For example, you can decide to purchase an electric rate plan that generates the electricity from wind power mills. In most cases these renewable energy plans will come with a higher price.
Electricity Supplier Customer Service
Not all PPL competitive electric suppliers will have the same level of customer service. However, if you choose your plan through ElectricRate.com you will have their superior customer service should any problems arise. They act as a concierge buffer between you and the electricity supplier should any assistance be needed.