Starting January 1, 2010, electric customers in the Lehigh Valley region of Pennsylvania and other parts of the PPL territory could face rate increases as high as 40% for some business customers as a decade old rate cap expires. PPL's service territory includes Allentown, Harrisburg, Scranton, Wilkes-Barre, Lancaster and surrounding regions.
However, customers can take one simple step to cut the projected rate increase in half -- shop around for a competing energy supplier. And SaveOnEnergy.com makes finding a lower electricity rate simple and easy for Pennsylvanians, many of whom are now shopping around for a cheaper electric company for the first time.
Pennsylvania was a pioneer when it comes to letting customers shop for a better electricity company, bringing competition to the electric industry in 1996. The electric market was an early success in the 1990s which saw millions of customers shop around for a lower electric rate, or for better service or a renewable energy product. However, because of market rules in the state, the market became dormant in the early part of this century.
But with prices projected to skyrocket at PPL starting January 1, 2010, customers are again seeking out competing offers for their electric supply. PPL has conducted five procurements for its power needs in 2010, with one remaining procurement scheduled. Based on procurement prices to date, generation rates at PPL for medium sized business customers are projected to increase 40% over today's rates. Small business customer rates are likely to increase 21%, while residential rates are expected to increase 33%. Large business rates will be set this fall.
By just choosing an alternate generation supplier, customers can save substantial money. Based on where current offers from competing energy providers are, customers could cut the projected rate increase in half, just by shopping for a new electric company.
SaveOnEnergy.com makes shopping for a lower electric rate fast and easy for business customers, meaning they can spend more time running their businesses instead of sifting through offers in the new and complex electric market. Through SaveOnEnergy.com's exclusive online retail exchange portal, SaveOnEnergy.com puts the power of competition in the hands of Pennsylvania businesses. All that customers have to do is enter a little information about their business and electric usage, and the information is instantly transferred to up to eight competing energy suppliers, who tailor their best rates to win the customer's business. By pitting up to eight competing energy providers in head-to-head competition, customers are assured of getting the lowest rate and making competition work for them.