On Tuesday, PECO announced new Prices to Compare for electric customers who do not choose to buy their electricity from a competing electric supplier, and the new PECO rates are still above the low electric rates available by shopping with SaveOnEnergy.com.
The Price to Compare is the rate paid for generation supply for customers who buy their electric supply from PECO. Under the competition introduced into Pennsylvania's electric market, customers at PECO and other utilities can choose their electric supplier and switch to a company offering lower rates. To date, more than half of electricity sold to customers at PECO is provided by competing energy suppliers offering a lower rate.
PECO's Price to Compare will change January 1, 2012. The new residential Price to Compare will be 9.96 cents per kilowatt-hour. While this is marginally lower than the current Price to Compare, it's still much higher than the low rates available to customers from competing electric suppliers on SaveOnEnergy.com.
The Prices to Compare for PECO business customers will also decrease January 1, but again, the decline will only be marginal, and the new rates will still be higher than current competitive offers in the market.
PECO said that beginning January 1, 2012, prices for small business customers not purchasing their electricity from a competitive supplier will decrease about 9 percent and prices for large business customers not purchasing their electricity from a competitive energy supplier will decrease by only 2.9 percent.
However, current rates for PECO business customers offered by competing electric suppliers are 20-30% below PECO's Price to Compare, meaning that the rates available by shopping will still be lower than PECO's new rates.
SaveOnEnergy.com can help businesses maximize their electric savings by finding the lowest electric rate, leveraging the power of competition to find customized offers unique to each business's electric usage and load profile. Now is a great time to shop for even lower rates, as the wholesale electric market is currently marked by low and stable prices.
With SaveOnEnergy.com helping customers find the lowest electric rate, customers can exceed the marginal savings offered by the new PECO rates, and can realize tangible and material savings on their monthly bills.