PPL raises interest rates in June |  business |  northcentralpa.com - NorthcentralPa.com

PPL raises interest rates in June | business | northcentralpa.com – NorthcentralPa.com

As of June 1, residential PPL customers will see a 38% rise in their bills when the default rate rises by about 4 cents per kWh.

For the average customer who uses 1,000 kWh of electricity per month, that means their bill will increase by about $34.

The current rate is 8.941 cents per kilowatt hour. On June 1, that rate will increase to 12.336.

“PPL Electric Utilities provides electricity to customers, but we don’t own the power plants where that electricity is generated,” explained Tracie Witter, a spokesperson for PPL. “In Pennsylvania, customers have the option to shop for electricity and choose a supplier. PPL encourages our customers to shop for the best price by going to PAPowerswitch.com. “

If customers do not choose a resource, it will default to PPL.

“The default rate is called the comparison rate,” Witter continued, and it’s updated twice annually based on competitive energy auctions. The auctions are designed to secure the lowest offered price, which PPL Electric then passes on to customers based on their electrical use at no profit to the company.”

Small business customers will also see a rise, although smaller than residential customers, from 9.675 ¢/kWh to 11.695 ¢/kWh, or just over 20%.

Witter says the rate increase is a result of market conditions, including the rising cost of energy supply sources, including natural gas, as well as general inflation and other global economic events.

There are several things customers can do to help reduce the impact of this change on their electricity bills:

  • Electrical shop: PPL encourages customers to use price comparison as a reference point when shopping for an electricity supplier that offers service and a price that is right for them. If customers choose to shop for a supplier, we encourage them to pay attention to the specific terms of the agreements they sign. Suppliers sometimes offer introductory offers or special incentives. Customers should beware of variable rates which often start low and then increase significantly with the price of energy. For smart shopping tips, visit pplelectric.com/shopsmart.

  • Energy saving: Reducing the amount of energy used at home or at work can save customers money on their monthly bills. PPLElectric offers tips, programs and discounts that can help. Resident customers can also sign up for a free virtual home energy audit. For more information visit savewithppl.com.

  • Get help with your bill: PPL offers several software and tools, including budget billing and payment plans, to help customers who are having trouble keeping up with their electricity bills. To find out more, visit pplelectric.com/billhelp Or call 1-800-342-5775.

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