ALLENTOWN, Pa. — PPL Electric customers who don't shop for electricity supply can expect to see a drop in their supply price this summer, the power company said Tuesday.
The supply decrease applies to those PPL Electric Utilities customers who are on the Company’s default supply rate, also known as the Price to Compare (PTC).
"The PTC is updated twice per year and costs for electricity supply are passed along to customers without any markup or profit to PPL Electric," the company said. "This is the price customers should use to compare offers from alternative energy suppliers. "
If new rates are approved by the PA Public Utility Commission, a typical residential customer using 1000 kWh per month will see a price drop of more than 9% on the supply portion of their bill, PPL said.
Small business customers will see a nearly 19% decrease in the supply portion of their bills. The newly proposed rates will be in effect from June 1 through November 30.
“This decrease is good news for our customers,” said Christine Martin, president of PPL Electric Utilities. “Through a competitive process, we’ve been able to secure an affordable energy supply for our customers who don’t shop for energy. On the delivery side of the bill, we continue to take steps, as we have over the past decade, to improve operating efficiency to continue delivering electricity as affordably and reliably as possible.”
New Supply Rates Proposed to PA Public Utility Commission
PPL Electric’s new Price to Compare will change on June 1, 2024, to:
- Residential customers: the new default rate is 10.040¢/kWh, which means the monthly electric bill for an average residential customer will drop by $9.77.
- Small business customers: the new default rate is 9.237¢/kWh, which means the monthly electric bill for an average business customer will drop by $22.24.
The June 1, 2024, decrease follows decreases that began on June 1, 2023, PPL said. Since then, the Price to Compare has decreased by more than 17% for residential customers and nearly 21% for small business customers.
