The vast majority of these new shoppers, who are saving money every month on their electric bill by choosing a new energy supplier, are at PPL Electric Utilities. Over one-third of PPL residential customers have now switched to a competing energy supplier, while migration among commercial customers (41%) and industrial customers (80%) is even higher.
In total, more than 650,000 Pennsylvanians have made a choice in who supplies them with electricity, under the state's competitive electric market.
The number of Pennsylvanians choosing a lower electric rate through competition is expected to skyrocket starting January 1, 2011 when rate caps come off at the remaining utilities, including at PECO in the Philadelphia area. Customers who don't choose a new electric supplier are facing rate hikes of up to 30% as rate caps come off.
Although shopping for an electric supplier is new to most Pennsylvanians, the shopping statistics show that customers quickly get comfortable with choosing a new energy supplier, especially when it means savings of hundreds, if not thousands, of dollars on their electric bills.
When you shop for a lower electric rate, the only thing that changes is that your electric bill gets smaller. Your local utility, whether it be PECO, PPL, Met-Ed, Penelec, or another company, will still deliver your power, and will respond to outages and other problems as they normally would. The utilities are no longer in the business of generating power and only distribute it, and they encourage customers to shop around for the best deal possible.