Residential electric customers at PECO in Philadelphia and surrounding areas are expected to see a rate hike on September 1, which is the next time the PECO Price to Compare will change.
The Price to Compare is the electric rate paid by customers who do not shop to receive their power supplies from a competing energy supplier. PECO instead serves these customers on "default" supply service, and buys power in the wholesale market. The Price to Compare changes every three months to reflect the latest power bought by PECO.
Specifically, for residential customers (Rate R) at PECO, the Price to Compare is forecast to climb back above 9 cents starting September 1 -- to 9.15 cents per kilowatt-hour (kWh). The forecast is an estimate published by PECO, and is not yet a final rate.
The current PECO residential Price to Compare is 8.61 cents per kWh.
Customers can avoid the PECO rate hike, and even save money versus the lower, current Price to Compare, by shopping with a competing electric supplier.
PECO residential customers can find competing rates in the low 8-cent range, and even some rates under 8 cents per kWh.
That works out to savings of about 12%, or more, just by switching your electric supplier.
Saving money on your electric bill couldn't be easier, and when you shop for a competing energy supplier, nothing else changes about your electric service except your rate.
PECO still responds to all outages and emergencies in a non-discriminatory manner, no matter who you buy your power supplies from. Shopping customers receive the same high level of service from PECO as customers who do not shop. And with competing energy suppliers offering big savings versus PECO's electric rate, there's no reason not to shop and save some money.