PPL customers will see another rate increase
Your electricity bill is likely to go up on June 1. (Daniel Urie, PennLive)
Another rate increase is coming for PPL Electric customers.
The company says electric generation supply prices are rising across Pennsylvania. As a result, the cost of generation supply that PPL Electric Utilities passes through to residential and small business customers will increase, it said.
PPL Electric’s “Price to Compare” increase will go into effect on June 1.
The new rate for residential customers will be 12.490¢/kWh up from 10.771¢/kWh, about a 16% increase. The new rate for small business customers will be 12.114¢/kWh up from 10.446¢/kWh, which is also about a 16% increase.
PPL says electric generation supply costs are being driven higher by several regional market factors, including the retirement of older power generating plants and limited new generation supply being added to the PJM Interconnection region, which encompasses 13 states and Washington, D.C.
“We continue to advocate for long-term policy reforms that can bring more stability to electricity supply and contribute to lower overall electricity prices for our customers, including allowing regulated utilities to invest in electric generation on behalf of our customers,” Christine Martin, president of PPL Electric Utilities, said in a news release. “We foreshadowed an increase of this nature in multiple and widespread communications following the steep price increases in PJM’s July 2024 capacity auction. What we anticipated would happen is now, unfortunately, becoming reality.”
For those who may need assistance, PPL offers a number of programs to help reduce energy usage and manage bills. The company offers budget billing and flexible payment plans to spread out electricity costs. It also offers bill assistance programs for income-qualified customers.
“Our primary focus is on helping customers make informed choices and reducing the impact of rising generation supply prices,” Martin said. “This year, we will provide $1.5 million in grants to customers through our Operation Help electricity fund program and raise individual grant levels. These grants are available in addition to other bill assistance programs to support eligible customers.”
For more information, customers can go to www.pplelectric.com/SeasonalSavings.
Customers are also able to shop for third-party suppliers at www.paPowerSwitch.com.
In December, PPL also raised rates to 10.771¢/kWh, up from 10.040¢/kWh for residential customers, and for small business customers to 10.446¢/kWh from 9.237¢/kWh.