Customers at utilities such as PECO, Allegheny Power (West Penn Power), Met-Ed, and Penelec, "could start to hear in coming months from competitors who want to sell them cheaper electricity," the Pittsburgh Tribune-Review reported last week.
The Tribune-Review noted that on January 1, 2010, rate caps at PPL Electric Utilities in the Lehigh Valley expired. As a result, PPL raised its residential electric prices by 30 percent in January.
"Since then more than 420,000 residential customers, or about 30 percent of the total, stopped buying power from the Allentown-based utility," the Tribune-Review noted, as these customers have realized savings of 10-16% by choosing an alternative electric supplier.
With rate caps expiring at PECO, Allegheny, Met-Ed and Penelec on January 1, 2011, these customers will also soon have the opportunity to choose a new energy supplier to save money on their electric bills. The Tribune-Review reports that new electric suppliers are making preparations to enter these utility areas to serve residential customers in the coming months, while new suppliers are already making low-prices offers to commercial and industrial customers in these service areas, allowing them to lock-in a low, fixed electric rate before rate caps come off.
More than a dozen competing energy providers are vying for customers at PPL, and such competition has led to a double-digit decrease in rates. The same number of competing suppliers and downward pressure on bills can be expected in the coming months at PECO, Allegheny, Met-Ed and Penelec.
Pennsylvanians can quickly and easily find the lowest electric rate by comparing the lowest rates from the best suppliers.