Electric rates for small and medium business customers at PPL Electric Utilities in Pennsylvania are projected to increase 15% starting June 1 if customers buy their electric supply from PPL.
Customers who choose a competing electric supplier can avoid paying these higher rates.
Currently, small and medium sized business customers at PPL pay a rate of 9.766 cents per kilowatt-hour.
This rate will change on June 1, however. Based on current market pricing, PPL has officially estimated the new small business electric rate as 11.22 cents per kilowatt-hour, a 15% increase.
PPL will not announce the final electric rate to be paid by small businesses for the period starting June 1 until May 20. However, in the past, PPL's estimates have not been off by any more than a few tenths of a cent, so small business customers at PPL are certainly facing a significant rate increase if they continue to buy their power from PPL.
With the competition that has been introduced into Pennsylvania's electric market, customers no longer have to buy their electricity supply from PPL, and can shop around for a lower rate offered by a competing electric supplier. Current electric rates offered by these alternative electric suppliers range from 20-30% below the PPL rate, depending on your business and usage. Pennsylvania electric customers get the lowest rates in the market by leveraging the power of competition.
Shopping for a lower electric rate doesn't affect your reliability or service restoration time, as PPL will still deliver your electric supply over its wires, and respond to all outages and emergencies in a non-discriminatory manner. The only thing that changes when you shop for power is that you pay a lower rate, and you get a lower bill each month.
At PPL, 43% of commercial customers have already made the switch to a lower priced electric supplier, and are enjoying the savings possible through competition.