The Public Utility Commission is alerting consumers who receive their electric generation supply from PPL that the price is now estimated to increase on June 1.
PPL’s June 1 estimate originally showed their price decreasing for the summer months. However, updated pricing now shows the cost of electric generation supply will be increasing by 3.2 percent.
Only PECO will reduce its electric rates on June 1. The six other companies have an average increase of over 25 percent.
Because under current regulations it can take between 11 and 40 days to switch electric suppliers, customers who do opt to make a change will still feel the impact of the June 1 utility rate increase. However, consumers who act now should see their new rate go into effect before the highest usage months of summer.
On April 3, 2014, the PUC approved regulations that require the utility to accelerate switching time frames through off-cycle meter readings that will allow consumers to switch suppliers within three business days once the utility has been notified. The changes will be considered by the state’s Independent Regulatory Review Commission tomorrow.
PPL has about 1.23 million residential customers and about 53 percent of those customers still purchase their electric supply from the utility rather than use a competitive supplier.
Statewide more than 3.5 million receive their electric generation from their local electric utility, while more than 2.1 million customers are using a competitive electric supplier, according to information compiled by the PUC.
The PUC has created a consumer alert on its website as well as the PAPowerSwitch website notifying customers of the change.
