Pennsylvania Electric Rate Increase, Met-Ed by 4%, West Penn by 5%
Households serviced by Met-Ed and West Penn will find themselves paying more for electricity as the year ends. This comes as a result of the new tariffed residential PTC-Default rates that the FirstEnergy Pennsylvania utilities filed with the Pennsylvania PUC. The new rates will cover a three-month period that commences on December 1, 2021.
The PTC-Default rates refer to the all-in default service rates, excluding the application of the State Tax Adjustment Surcharge, which stands at 0% at the moment. The new PTCs have yet to be posted.
Awaiting approval from the Pennsylvania Public Utility Commission, the tariffed rates filed by the utilities are as follows:
For Met-Ed customers, the current tariffed residential PTC-Default rate of $0.07114 per kWh will rise by 4%, which translates into $0.07414 per kWh.
For West Penn Power customers, the tariffed residential PTC-Default rate increase is slightly higher, at almost 5%. This means that the current $0.05447 per kWh rate will swing upwards at $0.05698 per kWh.
However, for Penelec customers, the case is different as the current tariffed residential PTC-Default rate of $0.06761 per kWh goes down by 4% and will be pegged at $0.06507 per kWh.
Penn Power customers will also experience a decrease in the tariffed residential PTC Default rate. From the current $0.07657 per kWh, it marginally goes down to $0.07593 per kWh.
The new PTC-Default rates for the FirstEnergy Pennsylvania EDCs will cover the period starting December 1, 2021, up to February 28, 2022.