Lowest Electric Rate in PPL
As an energy choice state, residents in Pennsylvania have the ability to shop and search for the lowest electricity rate in their service area. Pennsylvania Power & Light (PPL) is the second largest electric utility service area in the state. They deliver power to 1.4 million customers regardless of whether the customer chooses a competitive Pennsylvania electricity rate plan or not. Their revenues are generated from regulated distribution charges and not from the supply portion of the electric bill.
If a PPL customer does not shop for an electricity rate plan then they pay the utility Price to Compare rate. However, the money derived from this rate is not retained by PPL.
As of today, the lowest fixed electric rates for PPL residential customers are:
The fixed rates would lock the rate in for the term and lower the electric bill from the current PPL default rate. PPL will adjust their residential electric price to compare default rates for residential customers twice a year, once on January 1 and again on July 1. As of April 2023 only 37.8 percent of PPL residential customers have selected a competitive plan. More than 500,000 residential customers in the area can shop for the lowest electric rate in PPL and save a considerable amount of money on the PPL electric bills.
Fixed electric rate offers are recommended over variable rates as the fixed rates give the customer price certainty and protection. Energy markets are volatile effected by weather patterns, current events, and even global news. Variable electric rates put the customer at risk to sudden rate increases.