The final "Price to Compare" information that has been newly posted for customers at PECO Electric in Philadelphia and nearby areas of Pennsylvania confirm that small and mid-sized business customers, and also residential customers, will see an increase in their electricity rate on December 1, unless they shop for an alternative supplier of their power.
SaveOnEnergy.com® warned PECO customers in early October that forecasts were showing that electric rate hikes were looming, and now the final Prices to Compare posted by PECO confirm the rate increase.
The Price to Compare is the electric rate paid by customers who do not shop for their power supplies, and are served by PECO under "default" service. With the competition that has been introduced into Pennsylvania's electric market, customers can now choose among competing providers offering lower rates, just like customers can choose their cellular and internet provider. The Price to Compare serves as a benchmark, and if a competing supplier offers you a rate below the Price to Compare, you will save money on your electric bill versus staying with PECO.
At PECO, the final December 1 Price to Compare for small and mid-sized commercial and industrial customers (rate class GS
The Price to Compare for small and mid-sized commercial and industrial accounts (
Small and mid-sized business customers can use the power of competition to find an electric rate lower than PECO's Price to Compare. Alternative electric suppliers competing head-to-head are currently offering PECO small and mid-sized business customers rates in the 7¢/kWh range -- a savings of 20 percent versus the current PECO rate, and savings of 25 percent versus the PECO rate hike.
PECO residential customers will also see an electric rate hike on December 1, unless they shop for a better deal. The PECO residential Price to Compare will increase to 9.72¢/kWh to be precise.