PPL Electric Utilities set to lower residential rates by 9% - LNP | LancasterOnline

PPL Electric Utilities set to lower residential rates by 9% | Local Business | lancasteronline.com

PPL Electric Utilities, Lancaster County’s largest electricity supplier, is set to lower its residential price-to-compare rate by 9% starting Dec. 1, the utility company said.

That’s a decrease of about $11 a month for the average residential customer, PPL said.

The price-to-compare is set to decrease to 11.02 cents per kilowatt hour from 12.126 cents per kilowatt hour. It will be the second cut this year. In June, the utility’s price-to-compare fell by 17% from 14.612 cents per kWh.

PPL is the default electric supplier for most homes in Lancaster County, with approximately 272,000 customers here. Customers who don’t shop for electricity pay the default supplier’s rate, or price-to-compare, which in PPL’s case is updated twice per year based upon competitive energy auctions.

Meanwhile, some other electricity distributors have announced increases. Metropolitan Edison Co., which serves about 2,200 in Bainbridge, Denver and Marietta ZIP codes, said it will increase rates by about 10% to 11.306 cents per kWh from 10.24 cents per kWh on Dec. 1.

In Pennsylvania’s deregulated market, energy customers can shop for their electricity and natural gas suppliers. Customers who don’t choose are automatically served at the price-to-compare rate of the default supplier in their area.

Customers should use the price-to-compare to evaluate offers from other energy suppliers. To shop for better deals go to Pennsylvania Public Utility Commission’s PaPowerSwitch.com website.

The U.S. Energy Information Agency said in its September Short-Term Outlook that reductions in the wholesale price of electricity were largely due to lower natural gas prices in 2023. It is expected to issue a new outlook on Tuesday.