Thursday, November 3, 2016

PPL Announces Rate Decrease for Residential Customers; Increase for Small Businesses

PPL announced earlier this week that residential customers will see a decrease in their electric rates in December.

PPL Electric Utilities posted its price to compare for customers who rely on the utility to purchase electric supply on their behalf.

Effective Dec. 1, 2016 the new price to compare for residential customers will be 7.439 cents per kilowatt-hour (currently 7.491 cents per kWh). The price to compare for small business customers will be 7.197 cents per kilowatt-hour (currently 6.664 cents per kWh).

PPL Electric Utilities’ updates their price to compare every six months, on June 1 and Dec. 1 each year.

Generation rates and prices to compare for residential and small business customers are adjusted every six months to reflect the cost of power purchases and adjustments based on customer use in the prior period. The generation rate for large industrial customers is based on hourly market prices.

PPL Electric Utilities does not profit on the generation portion of customers’ bills. It merely passes along the cost of that supply to non-shopping customers without markup.

PPL Electric Utilities provides electric delivery service to more than 1.4 million homes and businesses in Pennsylvania and ranks among the best utility companies in the country for customer service and reliability