PPL electric customers will see their rates increase come June 1, according to the Pennsylvania Public Utility Commission (PUC).
PPL’s June 1 estimate originally showed their price decreasing for the summer months. However, updated pricing now shows the cost of electric generation supply will be increasing by 3.2 percent, according to PUC.
Because, under current regulations, it can take between 11 and 40 days to switch electric suppliers, customers who do opt to make a change will still feel the impact of the June 1 utility rate increase. However, consumers who act now should see their new rate go into effect before the highest usage months of summer, PUC officials said.
On April 3, PUC approved regulations that require the utility to accelerate switching time frames through off-cycle meter readings that will allow consumers to switch suppliers within three business days once the utility has been notified. The changes will be considered by the state’s Independent Regulatory Review Commission on Thursday, May 22.
PPL has about 1.23 million residential customers and about 53 percent of those customers still purchase their electric supply from the utility rather than use a competitive supplier.
Statewide, more than 3.5 million receive their electric generation from their local electric utility, while more than 2.1 million customers are using a competitive electric supplier, according to information compiled by PUC.
PUC has created a consumer alert on PAPowerSwitch.com notifying customers of the change.
Many customers receiving their electric generation service from their electric utility will likely see the “price to compare” (PTC) increase as of June 1. The PTC is the price per kilowatt-hour that the electric utility charges. Consumers can use the PTC to evaluate prices from the competitive suppliers at PAPowerSwitch.com.