PPL customers to see decline in energy prices

Some PPL Electric Utilities customers will see a drop in their energy prices starting this June, the company announced this week.

Starting June 1, 2024, those who don’t shop for electricity supply will see a drop in their supply price. The supply decrease applies to any PPL customers who uses the Company’s default supply rate, also known as the Price to Compare (PTC).

The PTC is updated twice per year and costs for electricity supply are passed along to customers without any markup or profit to PPL Electric. This is the price customers use to compare offers from alternative energy suppliers.

If new rates are approved by the PA Public Utility Commission, a typical residential customer using 1000 kWh per month will see a price drop of more than 9% on the supply portion of their bill. Small business customers will see a nearly 19% decrease in the supply portion of their bills. The newly proposed rates will be in effect June 1 through November 30.

“This decrease is good news for our customers,” said Christine Martin, president of PPL Electric Utilities. “Through a competitive process, we’ve been able to secure an affordable energy supply for our customers who don’t shop for energy. On the delivery side of the bill, we continue to take steps, as we have over the past decade, to improve operating efficiency to continue delivering electricity as affordably and reliably as possible.”

New supply rates proposed to PA Public Utility Commission

Residential customers: a new default rate of 10.040¢/kWh, which means the monthly electric bill for an average residential customer will drop by $9.77.Small business customers: a new default rate of 9.237¢/kWh, which means the monthly electric bill for an average business customer will drop by $22.24.

The June 1, 2024, decrease follows decreases that began on June 1, 2023. Since then, the Price to Compare has decreased by more than 17% for residential customers and nearly 21% for small business customers.