Electric utility announces new price
PPL Electric Utilities has posted a new energy price for those customers who choose not to shop for their electricity supply.
The new price to compare affects only the energy portion of electric bills, not the delivery portion. Also, the new price is only for those customers who do not shop for energy from a competitive supplier — currently about 55 percent of the utility’s 1.4 million customers, a news release said.
Customers who do shop for their energy are not affected by this change. Customers always have the option to shop for the best price for their energy.
Effective Dec. 1, the new price to compare for residential customers will be 7.463 cents per kilowatt-hour, compared to the current price of 8.493 cents per kWh. The price for small business customers will be 7.701 cents per kilowatt-hour compared to 7.490 cents per kWh currently.
PPL Electric Utilities, the news release said, encourages customers to save money by shopping for deals with competitive electric suppliers. For those who choose not to shop, the company holds energy auctions to purchase power at the lowest possible price.
PPL Electric Utilities’ updated price to compare takes effect every six months, on June 1 and Dec. 1 each year. Generation rates and prices to compare for residential and small business customers are adjusted every six months to reflect the cost of power purchases and adjustments based on customer use in the prior period. The generation rate for large industrial customers is based on hourly market prices.
PPL Electric Utilities does not profit on the generation portion of customers’ bills, according to the news release, instead passing along the cost of that supply to non-shopping customers without markup.
PPL Electric Utilities provides electric delivery service to more than 1.4 million homes and businesses in Pennsylvania and is a subsidiary of PPL Corp.