If you haven’t heard the radio ads, seen the TV spots or been sent a mailer, here’s the big news on the utility front: PECO’s rate cap, imposed by the state, expired on Dec. 31, which means PECO rates will go up.
The utility company estimates that the increase will be about 5 percent on residential electric bills. But now, you have the right to choose your electricity supplier—and that could ultimately save you money. Note: Though you choose where you buy your electricity, PECO will continue to deliver your power.
Your bill comprises two parts: the electricity or natural gas that you use, and the cost to deliver that power to you. Grab your last PECO bill, and check out papowerswitch.com. The state is making it easy to comparison shop. Just like anything else, you have to do your homework. Before you sign up with a new electricity supplier, ask some questions:
• Are they licensed with the Pennsylvania Public Utility Commission?
• What is their price per kilowatt-hour?
• Is the rate fixed, or will it change with the time of day and usage?
• Is the rate just an introductory rate that will change after a certain period of time?
• Are they offering a bonus or an incentive to sign up?
This is a very competitive time right now. These suppliers want your business, so see what you can get. You can find more questions to ask on the state’s website above.
There is no deadline to sign up. Just be aware that PECO’s new rates take effect this month.
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