Electric rate caps for customers of PECO Energy in the Philadelphia area formally end December 31, but customers are already paying a higher rate for their generation service for the electricity they buy from PECO in December. It's another reason why customers need to quickly shop for a lower priced energy supplier, and the quickest way to find the lowest rate in the Pennsylvania electric market is with SaveOnEnergy.com.
Effective November 30, the average generation rate paid by small business customers at PECO jumped 57%, from 5.71¢/kWh to 8.98¢/kWh. This is the rate that customers pay for the physical power supplied to, and used by, their business. Customers can choose to buy their power supply from any number of new, competing suppliers, who are offering rates 20-30% lower than PECO's 8.98¢/kWh.
The rate increase is separate from the looming end of electric rate caps, and instead reflects an archaic reconciliation of several charges levied over the past decade.
The bottom line, however, is that commercial customers who shop for a competing energy supplier at PECO can now avoid, or "bypass", a generation charge of 8.98¢/kWh. This presents an immediate savings opportunity for business customers at PECO. Whereas a month ago, shopping for supplies before the end of the rate caps didn't make sense because the PECO rate of 5.71¢/kWh was lower than competing offers, the PECO rate hike has made prices from competing electric suppliers very attractive to customers immediately, and not just for the post-rate cap period.
Since the higher PECO generation rate has been in effect since November 30, customers must act quickly to avoid spending another day on the inflated rate. That's where SaveOnEnergy.com is an invaluable resource to Pennsylvania business customers looking for the fastest and easiest way to find the lowest electric rates.
Only SaveOnEnergy.com offers Pennsylvania business customers its exclusive commercial exchange portal, where up to eight competing energy suppliers competing head-to-head for your business. Only with SaveOnEnergy.com do customers have the ability to instantly transmit their information to up to eight energy providers, who then contact the customer directly with their lowest rates. SaveOnEnergy.com's exchange portal cuts out the middleman in finding the lowest electric rates, and streamlines the shopping process, so customers can start saving as quickly as possible.