The price of electricity will be going up for most Pennsylvania residents starting on Wednesday, but not for Penelec customers. Eight of the ten electricity distributors operating in the state will increase their “price to compare”, but two, Penelec and Penn Power, will decrease rates.
Rates for Penelec’s residential customers will fall 3.8 percent, from 6.761 cents per kilowatt hour to 6.507 cents. For Penn Power, the rate will drop by less than one percent. to 7.593 cents per kilowatt hour.
The residential rate will increase substantially in some areas of the state, such as for customers of Pike County Light & Power, where the rate will rise 50.2 percent to 9.796 cents per kilowatt hour. Other distributors are raising their rates from 3.4 percent to 26 percent.
While residential rates are going down in the quarterly adjustment for Penelec, commercial customers will feel the pinch. Their rates will rise more than 31 percent.
The “price to compare” is the actual cost of generating electricity. It usually makes up forty to sixty percent of a customer’s bill. The new rates will be in effect from December 1st until the next quarterly adjustment, on March 1st.
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