Philadelphia Power Rates set to Increase
Philadelphia consumers are about to start paying higher prices to turn on the lights after PECO Energy announced that their price to compare rates will be increasing in October.
The increase will effect all PECO Energy customers who have not chosen an alternative energy company for electric supply. Customers wanting to avoid the increase and pay lower prices for their electricity can do so by shopping for lower electric rates. Savvy consumers willing to take the time to shop and compare electric rates can save 21% on their electric bill versus the price to compare rates that will go into effect on October first.
Business customers still on the PECO default price will also see a rate increase in October. PECO is trying to educate all businesses and residential consumers in their territory about their choices in regards to electric suppliers. There is no reason to stay on default service if lower competitive electric rates are available. Currently, competitive suppliers are offering lower energy prices for both commercial and residential customers.
Shopping for the lowest electricity price can substantially lower a customer’s monthly electric bill. Over 20% of Philadelphia residential customers have switched electric suppliers since decade long capped rates expired earlier this year. The number of electric shoppers is expected to increase as default prices continue to increase.
Here are some of the lowest electric rates available for PECO Energy customers: