What you pay for electricity results from a complex series of events. Whether you’re looking to cut costs or lead a more sustainable lifestyle, Penelec offers many programs and incentives to help.
Pennsylvania’s regulated electric utilities routinely alter their default service prices (Price to Compare) several times yearly. Here are five key factors that impact your power rates.
Time of Use
Penelec PA offers many options to help you lower your energy rates. Choose a supplier with a fixed price plan for predictable electricity costs each month. An alternative supplier with a competitive generation rate can save you more money.
Residential customers can find more affordable rates by comparing their options and selecting an electricity provider that is right for them. An online comparison tool allows you to compare prices from licensed electricity suppliers that offer service to Penelec residents. You can find the best electricity rates and plans for your home, and the process is quick and easy.
As residents consider their energy options in Pennsylvania, examining Penelec residential electric rates becomes crucial for understanding the potential impact on monthly expenses and making informed choices for a sustainable future.
Depending on your selected supplier, you can choose a time-of-use or tiered electricity rate that helps you manage your bill. These plans vary by supplier but generally offer a higher price for electricity during peak hours and a lower rate during off-peak times of the day or night. These electricity rates can encourage you to run appliances during non-peak hours, like washing machines and dishwashers, or charge your electric vehicle at off-peak times when it will cost less.
Seasonal Demand
The utility sets Penelec electricity rates through an auction process that occurs four times yearly. These rates, known as the Price to Compare, include generation supply, transmission charges, and the state’s gross receipts tax.
Energy demand can fluctuate by season, meaning prices may be higher during winter or summer than in other seasons. However, energy experts recommend that consumers shop for competitive electric generation suppliers to take advantage of the seasonal pricing fluctuations and save money.
With the help of market deregulation, consumers have access to various competitive energy supplier offers. These providers offer different plans with multiple rates and term lengths, allowing consumers to find the right fit for their lifestyle and budget.
One of the most significant benefits of switching to a competitive energy supplier is the budget certainty of locking in an electricity rate for up to 48 months. This helps Penelec electricity customers better manage their energy costs and avoid surprises on their monthly bills. Contact a specialist today to learn more about how to save on your Penelec electricity bill.
Supply and Demand
Penelec offers money-saving programs, including appliance turn-in, rebates, and energy efficiency. They also have a budget billing plan to help you manage energy costs through the winter months.
Customers can choose their energy providers in areas where electric deregulation has occurred. These third-party companies purchase energy wholesale and sell it to consumers like you. They often offer competitive rates lower than the utility’s Price to Compare (PTC) default rate.
The PTC on your Penelec electricity bill includes charges for generation supply, transmission, and the state’s gross receipts tax. The PTC can change four times per year.
With competitive electricity rates well below the Penelec PTC, it makes sense for you to shop and switch. Plus, many third-party suppliers offer budget certainty with fixed electricity rates for up to typically 48 months. You can also find options that are 100% Green if that’s important to you. Enter your zip code above to see current competitive offers in your area. You could save big!
Energy Efficiency
Penelec customers can also reduce their energy rates and bills by implementing energy efficiency measures, using LED light bulbs and appliances, sealing air leaks, and more. Those who choose to switch their electricity suppliers can also benefit from competitive rates that offer lower prices than the default price-to-compare rate provided by their local utility.
Penelec is a municipal electric company that supplies, distributes, and maintains power lines in its service area. In addition, it offers a variety of energy-related products and services that include residential energy audits, and home repair programs.
Since Pennsylvania is a deregulated state, residents can purchase electricity from a third-party supplier offering competitive rates. If you want to find the best Penelec electricity provider for your needs, enter your ZIP code and compare prices to see which options are available near you. Remember, however, that your utility company will still be responsible for delivering and maintaining power, so contact them directly if you have any issues with your energy service.
Renewable Energy
A large part of the generation cost per kilowatt-hour is related to fuel. While renewable energy sources may offer lower fuel costs, they require more complex and costly infrastructure to deliver power to the grid.
Renewable energy can be a source of reliable, sustainable electricity, essential as the world transitions away from fossil fuels. It is also an industry that creates jobs and stimulates local economies.
However, there are still challenges to a fully renewable future, including developing storage technologies, strategies for matching electricity use with peak generation times, and infrastructure for long-distance power transmission. In addition, some renewables are more intermittent than others. For example, run-of-river hydro can have a highly variable output. Solar and wind are also periodic, but studies have found that most grids can accommodate up to 15% of their capacity without impacting reliability. Moreover, government-imposed fees increase the overall cost of renewable projects. These are passed on to the electricity consumer through the kilowatt-hour cost of delivered power. This includes taxes, royalties, tariffs, and other fees.
