Compare Competitive Electric Rates to the PPL Price to Compare
Adversaries to Pennsylvania Energy Choice laws are increasingly finding it difficult to argue against the success of the state’s competitive power market. The Pennsylvania Power & Light service area in particular has consistently been one of the most successful energy choice markets in the world in regards to customer and supplier participation. Both customer and supplier participation has been largely influenced by the transparency of the PPL electricity default rate, better known as the Price to Compare.
Currently, there are seven rate plans listed on the energy price comparison site electricrate.com below $0.07 per kWh. Since January 1, 2010, the PPL Price to Compare for residential customers has only dropped below $0.07 one time in March of 2012. With current savings as high as 20% PPL customers have a high incentive to switch off of the default rate service and compare competitive PPL rates. The lower competitive rates have resulted in 43.2% of PPL residential customers purchasing their power from a competitive supplier. Though the switch rate is high in comparison to other energy choice markets throughout the United States, there are still over 56% of customers who are paying substantially more than they need to on their monthly PPL electric bills.
Starting in June of 2015, PPL began updating their Price to Compare twice a year. Prior to this the default rate was changed four times a year with the change only lasting three months. The longer duration provides suppliers with more time to react and implement marketing strategies in order to acquire or keep customers. When customers know what to compare competitive rates against, it makes it purchasing decision easier. Greater consistency in the PPL Price to Compare has resulted in greater awareness of energy choice knowledge.
Comparing PPL rates is the best way to decide on which rate structure is best for an individual’s personal needs. Suppliers change their rate offerings often, but comparison sites give consumers a platform to easily view plans at any given time.