Residential & Commercial FirstEnergy Customers Will Pay 6% Higher Bills
Pennsylvanian utility customers will get an unpleasant surprise at the end of the summer in the form of higher electricity bills. The state’s four major utilities, Met-Ed, Penelec, Penn Power, and West Penn Power, all members of the FirstEnergy Pennsylvania group have collectively filed with the Pennsylvania Public Utility Commission to propose new, higher default electric rates (known as the ‘Price To Compare’), starting September 1, 2021.
The new proposed lower prices will have to be approved by the PPUC before they can take effect. The impact of the proposed rates is as follows:
Residential Price to Compare Hikes:
It means a 6% increase for Met-Ed residential customers, from the current rate of ¢06.690 per kWh to ¢7.114 per kWh.
It means a 5% increase for Penelec residential customers, from the current rate of ¢6.462 per kWh to ¢6.761 per kWh.
It means a 6% increase for Penn Power residential customers, from the current rate of ¢7.195 per kWh to ¢7.657 per kWh.
It means a decrease for West Penn Power residential customers, from the current rate of ¢5.707 per kWh to ¢5.447 per kWh.
Commercial Price to Compare Hikes:
It means a 5% increase for Met-Ed commercial customers, from the current rate of ¢06.584 per kWh to ¢6.914 per kWh.
It means a 3% increase for Penelec commercial customers, from the current rate of ¢6.374 per kWh to ¢6.585 per kWh.
It means a 6% increase for Penn Power commercial customers, from the current rate of ¢8.003 per kWh to ¢8.495 per kWh.
It means an 8% decrease for West Penn Power commercial customers, from the current rate of ¢6.128 per kWh to ¢5.660 per kWh.
It’s hard to tell what trajectory the default residential electric rates will take going forward, but if past years are any indication, they will continue going up in preparation for another cold winter. Pennsylvanian customers who would like to avoid volatility in future electric prices can opt for a locked, fixed-rate electricity plan with one of Pennsylvania retail energy providers (REPs).
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