FirstEnergy Pennsylvania Rate Increase 2023 | Price to Compare

The FirstEnergy Pennsylvania Rate Increase Price to Compare 2023

Commercial Rates:

• Met-Ed: $0.10679 per kWh effective June 1, a 23% increase from the current $0.08679 per kWh.
• Penelec: $0.11037 per kWh effective June 1, a 20% increase from the $0.09161 per kWh.
• Penn Power: $0.12890 per kWh effective June 1, a 19% increase from the current $0.10818 per kWh.
• West Penn Power: $0.10959 per kWh effective June 1, a 45% increase from the current $0.07529 per kWh.

Residential Rates:

• Met-Ed: $0.10240 per kWh effective June 1, a 2.5% increase from the current $0.09991 per kWh.
• Penelec: $0.09703 per kWh effective June 1, a 1.5% increase from the $0.09561 per kWh.
• Penn Power: $0.10556 per kWh effective June 1, a 1.1% increase from the current $0.10439 per kWh.
• West Penn Power: $0.09929 per kWh effective June 1, a 20% increase from the current $0.08228 per kWh.

All of these rates are tariffed PTCDefault rates, and will be in effect for the six-month period from June 1, 2023, to November 30, 2023. These rates have been filed by the FirstEnergy Pennsylvania utilities under Rider H with the Pennsylvania Public Utility Commission.

How to lower your electricity bill in Pennsylvania

The Pennsylvania Public Utility Commission (PUC) is urging residents to #SaveInPA by considering electric power shopping options that could lead to significant savings on their monthly electricity bills, especially during peak usage times. Despite a prolonged period of increasing energy prices, competitive suppliers in many areas of the state are now offering rates lower than those provided by many utilities for electric generation. Since energy costs usually constitute more than 50% of total utility bills, lower energy prices can have a significant impact on monthly bills.

The Commission has highlighted that the service territories of PPL, PECO, and Duquesne Light, which cover several major communities such as Philadelphia, Pittsburgh, and their suburbs, as well as Allentown, Bethlehem, Harrisburg, Lancaster, and Scranton, have the potential for the highest savings, ranging from 21% to almost 49%, subject to market price changes.

Short-term and long-term supplier offers in these territories are significantly lower than the utility generation rate. For instance, supplier prices in PPL's service territory are up to 37% lower for long-term contracts and nearly 49% lower for short-term contracts. Similarly, in Duquesne Light's territory, supplier prices are as much as 21% lower for long-term contracts and 36% lower for short-term contracts, while PECO's supplier prices are up to 21% lower for long-term contracts and 31% lower for short-term contracts. The potential savings in these areas can have a substantial impact on monthly electric bills.

Although prices vary between suppliers and regions, the average short-term savings across the state are 24%, while the average long-term savings are 15%. It is worth noting that the highest savings are usually available where current utility generation prices are the highest, particularly in PPL's service territory, but not all offers are available in every service territory.

How to start comparing electricity prices in PA?

Looking to save money on your energy bills? Consider exploring your electric power shopping options with Ananta Energy Source. By comparing rates and switching to a competitive supplier, you could potentially save a substantial amount of money on the energy portion of your monthly electric bill. Don't let rising energy prices impact your budget - take control of your energy costs today and start saving with Ananta Energy Source. Contact us to learn more about our services and how we can help you save.

Contact us now to start saving.