How to Reduce Your Penelec Electricity Bill
Penelec delivers power to 586,552 homes and businesses in certain areas of central Pennsylvania. Recently Penelec customers faced a substantial rate increase for power generation supply that has caused many people to start looking for ways to reduce their monthly electric bills. While a number of articles exist providing information on how to save money on energy expenses through the purchase of energy efficiency products, the easiest way to lower a Penelec electric bill is to find an energy supplier offering a cheaper rate for electricity.
As an energy choice utility, Penelec allows their customers to shop the marketplace for more attractive electricity price plans that can replace the default generation and transmission prices that the utility charges to customers who have not started the shopping process. On October 1, 2016 customers on the Penelec price to compare rate structure experiences a sharp 28.3% increase in their generation and transmission costs. Penelec’s price to compare rate was previously $0.0602 per KWh in September, as of October 1 it shot up to $0.07724 per kWh. Meanwhile, competitive suppliers are offering rates as low as $0.06 that can replace the Penelec default price and reduce the cost by 22%.
Penelec customers will not see the increased rate until they receive their electric bills in November, since the October bill will show the expenses for the month of September. Indeed the majority of customers who have experienced this rate increase are still unaware that they are paying the higher price and probably won’t realize it until their November 2016 electric bill arrives. As of September 2016, only 32.2% of all Penelec customers and 30.2% of residential customers had switched off of the default service and were purchasing power from a competitive Penelec supplier.
Below are the current Penelec rate options that can replace the high default rate. While customers do have the option to purchase their power from a competitive supplier, they still must receive the power from Penelec who continues to operate as a regulated utility, or electricity delivery, company. All rates below are updated in real time.