There are a lot of options available when it comes to choosing a reliable retailer electricity provider. You can select one that has a fixed price and time period, or you can opt for one with incentives to help you save money.
You can also choose to work with a company that uses renewable energy sources such as solar and wind power. These companies typically purchase their electricity wholesale from a variety commodities markets, and then sell it back to you for your home.
The Secret To Saving Money on Your Electricity Bill
penelec electric rates can change so it is important to shop around for the most competitive rate for your region. You can do this by using a free online comparison tool that matches your zip number and current utility rates with local providers.
The most sought-after choice is a fixed price plan, which provides a stable energy price for your period of at least six months or more. You can also select an option that offers prices that fluctuate in accordance with market prices, based on demand and supply.
Certain alternative retail providers have deals with wholesale electricity market that offer lower rates than Penelec. They also provide a range of other features that can help you save money on electricity.
Default Service Charges From Generator Companies
Pennsylvania’s electricity deregulation resulted in utilities selling their generators to generator firms. Customers who didn’t shop at a retailer had to pay the equipment costs. These generator costs, also referred to as the “Price To Compare” or PTC, are the actual cost of producing and distributing electric to utility customers without any markup.
The state’s Public Utilities Commission monitors each utility’s default rates to ensure they are passed on to customers at an affordable price. In the majority of cases the PTC will be about 7 cents per kilowatt hour for a residential customer.
You’ll see this on your monthly electric bill.
In addition to the PTC, Penelec customers will see utility delivery charges on their bills, which are charged to cover the costs of delivering and sending energy generated by the generators to your home. They are calculated based on how many kilowatthours (kWh) you consume and are very expensive for people who use large amounts of electricity.
You might also be able to sign up in a competitive retailer’s program at a fixed cost which is 7% lower than the utility’s current Price To Compare (or PTC). This is an excellent deal for households that want to save money on their electricity, but don’t want long-term contracts.
It is crucial to search for a retailer who is able to meet your requirements and meet your budget. In addition to offering a low cost, some vendors also offer incentives such as discounts or rebates for the use of renewable energy sources.