Pennsylvania Electricity Prices Surge Starting December 1
UPDATE: Electricity prices are set to spike across much of Pennsylvania on December 1, 2023, affecting customers of major utilities including PPL, Met-Ed, and PECO. The Pennsylvania Public Utility Commission (PUC) announced this urgent increase, which will impact residential customers who do not shop for competitive electric suppliers.
Beginning next month, the generation/supply price-to-compare for residential customers will see significant increases. For PPL customers, the price will rise from $0.1249 to $0.12953 per kilowatt-hour (kWh), a jump of 3.7%. Met-Ed customers will face an even steeper rise of 8.9%, with rates climbing from $0.11905 to $0.12965 per kWh. PECO customers are not far behind, experiencing a 6% increase, moving from $0.1040 to $0.11024 per kWh.
This price increase is crucial as it accounts for 40% to 60% of a customer’s electric bill. However, factors such as total usage, weather conditions, and system efficiency will also play a role in the final bill. The PUC urges residents struggling to meet their electricity expenses to contact their utility providers for assistance programs available to help during this challenging time.
In addition to the upcoming price increase, PPL has proposed a separate residential rate hike of 7%, seeking an annual base rate increase of $356.3 million. The PUC will hold four in-person hearings and two telephone hearings in December to gather public input on this proposed increase, with a final decision anticipated by July 1, 2024. If approved, a typical residential customer using 918 kWh per month could see their bill rise from $177.01 to $189.40.
Residents across Pennsylvania should prepare for these increases as the energy market continues to drive costs upward. Stay tuned for further updates on this developing story, and consider sharing this information to inform others who may be impacted.
