PECO to Raise Prices for Three Months....(Advertisement)

[mixiboi]

Since this was released on a Saturday...

Peco electricity price to rise 21.5% Monday

The Philadelphia utility's residential price for electricity is slated to increase 21.5 percent on Monday.

The increase from 8.64 cents per kilowatt hour to 10.5 cents amounts to $13.95 a month for a customer using 750 kilowatt hours (kWh).

The quarterly adjustment pertains only to the supply charge on the bill, and won't affect the 30 percent of Peco customers who have switched to competing suppliers. Peco has 1.6 million customers in six counties.

Peco spokeswoman Cathy Engel Menendez said the increase was mostly caused by the utility's undercollection of revenue in the second quarter of this year. She said the utility already projects that its price will return below 9 cents on Jan. 1.

The last three months of 2012 also marks the final billing period that Peco's 160,000 electric heating customers will receive a discounted two-tiered rate from the utility.

But really all this was is an advertisement for that other stuff:

The price boost - even if it is short-lived - is likely to trigger renewed interest in shopping for electricity suppliers.

"The smart Peco customer would be shopping," said Engel Menendez.

Since January 2011, about 474,000 Peco customers have switched to alternative suppliers under the state's electric choice system.

The Pennsylvania Public Utility Commission has posted offers for Peco customers from 45 residential suppliers on its website, PA Power Switch - Pennsylvania Public Utility Commission. The offers include fixed-rate, variable rate and green-power options.

Some suppliers are offering fixed-rate deals as low as 7.6 cents per kWh, or nearly 28 percent off Peco's price.

"For bargain-basement customers, these are the lowest prices I've ever seen," said John Raisch, a cofounder of Alphabuyer.com, a Paoli group-buyer that is offering a six-month fixed rate of 7.55 cents per kWh.

Under the PUC's rules, distribution companies like Peco are considered the supplier of last resort, and can only offer a single "default" rate for residential customers. Peco was required to phase out discounted rates for electric heating customers, as well as a cheaper off-peak rate for customers with electric water heaters.

The PUC website has several offers posted for RH customers, as does the Pennsylvania Office of Consumer Advocate: Pennsylvania Office of Consumer Advocate

[StatesRights]

A "Temporary Rate Increase" - like a "Temporary Tax Increase" - yah, right.
(Didn't the Philadelphia Water Department recently get a big rate increase also?)
Wow, you guys are being squeezed and squeezed...

[Gladys]

ARE THEY INSANE?????

Ok who can recommend another supplier.

I ditched comcast now peco is next on my hit list.

[Jayfar]

When my previous supplier's 12 month fixed rate was set to expire and go up, I changed to Castlebridge Energy last spring for $0.0778 per kWh fixed rate for 12 months, no cancellation fee. Beware suppliers with variable rates or rates fixed for only 6 months and cancellation fees.

[Gladys]

When my previous supplier's 12 month fixed rate was set to expire and go up, I changed to Castlebridge Energy last spring for $0.0778 per kWh fixed rate for 12 months, no cancellation fee. Beware suppliers with variable rates or rates fixed for only 6 months and cancellation fees.

I really don't know anything about this, so I will call them. You've had them a while and they work well?

[mixiboi]

ARE THEY INSANE?????

Ok who can recommend another supplier.

I ditched comcast now peco is next on my hit list.

That is the point of this...."Under the PUC's rules, distribution companies like Peco are considered the supplier of last resort, and can only offer a single "default" rate for residential customers."

The state is forcing PECO out of being anything but a safety net. Which is why this article came off as an ad for all these "new" electric companies then anything else.

[ArcticSplash]

That is the point of this...."Under the PUC's rules, distribution companies like Peco are considered the supplier of last resort, and can only offer a single "default" rate for residential customers."

The state is forcing PECO out of being anything but a safety net. Which is why this article came off as an ad for all these "new" electric companies then anything else.

I was at least over $100 richer every month in the summer back when we had regulation.

This new "free" market ain't so free. I guess the way to a bigger, more powerful economy is... to go back to the dark ages and not use any juice.

[Jayfar]

I really don't know anything about this, so I will call them. You've had them a while and they work well?

Since June. No problems possible: distribution, meter reading and billing is still done through PECO and you still pay PECO for distribution and a customer charge (that's in addition to the $0.0778/KwH for the actual electricity).

[NickTheCage]

I was at least over $100 richer every month in the summer back when we had regulation.

This new "free" market ain't so free. I guess the way to a bigger, more powerful economy is... to go back to the dark ages and not use any juice.

Doesn't peco still have a monopoly?

Do the laws of supply and demand, inflation, etc function everywhere except in the energy industry?

[MetalDeth81]

check out AlphaBuyer.com for deals on electricity and gas... It usually takes a month or so to kick in.

[ShoshTrvls]

I really don't know anything about this, so I will call them. You've had them a while and they work well?

Who supplies your energy is immaterial to, essentially, everything but price (and, if you want to go green, your granola-ness). All energy, once it gets into the grid, is fungible. So it's not like the energy that is coming into your house is actually coming from a specific power source owned and operated by the energy company you select. Rather, that company -- along with all other energy companies -- contributes energy to the grid which is then supplied generally to all users.

You can compare companies and rates here: PA Power Switch - Pennsylvania Public Utility Commission

[palvar]

Doesn't peco still have a monopoly?

Do the laws of supply and demand, inflation, etc function everywhere except in the energy industry?

That is why we have a PUC, they regulate the margin that PECO is able to make. We now have a free(er) market for electricity, check out PA Power Switch - Pennsylvania Public Utility Commission. It's beyond easy to buy power from someone other than PECO.

[Cya]

Since June. No problems possible: distribution, meter reading and billing is still done through PECO and you still pay PECO for distribution and a customer charge (that's in addition to the $0.0778/KwH for the actual electricity).

Thanks, Jayfar! Screw Peco. I just switched online to Castlebridge.
It was simple! Just have your Peco account # ready, and fill in the blanks. Hit the easy button! I'm done.

Screw Peco. PGW should be next!

[macdaire]

We have the energy saver with PECO and saved over the summer. Anyone have this energy saver and still save money after changing companies?

[salf]

I'm thinking about changing elec. suppliers, saving money is a byproduct, it's actually to help out a friend that's selling that stuff.

It does seems it would save me about $8 per month, however I have to go with a variable rate, my doubt is "how variable" that is.

Would it spike my rates higher than PECO at a times?, does anyone has any first hand experience with these "variable" terms.

[ShoshTrvls]

I'm thinking about changing elec. suppliers, saving money is a byproduct, it's actually to help out a friend that's selling that stuff.

It does seems it would save me about $8 per month, however I have to go with a variable rate, my doubt is "how variable" that is.

Would it spike my rates higher than PECO at a times?, does anyone has any first hand experience with these "variable" terms.

I don't, I've always gone with the fixed plans. I'd rather know what something is going to cost me than gamble on saving just a few dollars.

[Jayfar]

I don't, I've always gone with the fixed plans. I'd rather know what something is going to cost me than gamble on saving just a few dollars.

Exactly right, more likely than not the variable rate will go up not long after the ink is dry on the contract. Avoid the ones that offer fixed rate for only 6 months too (although you probably won't find any fixed for longer than 1 year).

[Jayfar]

Exactly right, more likely than not the variable rate will go up not long after the ink is dry on the contract. Avoid the ones that offer fixed rate for only 6 months too (although you probably won't find any fixed for longer than 1 year).

I stand corrected on that last bit as of now:
Energy supplier offers fixed rate for 7 years - Philadelphia Inquirer

FirstEnergy Solutions 7.5 cents per kilowatt hour (kWh)

but there is a $295 early cancellation fee (unless you move) and:

But by making a seven-year commitment, customers may be limiting their future options. Peco is currently installing smart meters that will allow suppliers to offer hourly pricing next year, which some customers may use to reduce their bills by shifting their discretionary electrical loads to off-peak hourly rates.

[BenDee]

I stand corrected on that last bit as of now:
Energy supplier offers fixed rate for 7 years - Philadelphia Inquirer

FirstEnergy Solutions 7.5 cents per kilowatt hour (kWh)

but there is a $295 early cancellation fee (unless you move) and:

Has anybody gone with the provider/plan? I'm debating it, but not sure how likely 1) Electricity prices are to decrease over the next year 2) What their other fees are (is that something fixed by PECO/PA?) and 3) Is this a company that will go out of business if electricity prices increase too sharply at some point between now and 2019?

[warcraft82]

The cancellation fee on the FirstEnergy 7-year plan is now only $100. Rate is still 7.5c. Given PECO's current rate, I'll save enough to cover the cancellation fee after two years (varies by your usage). And I don't see PECO's rates going that low in the future - they want out of the generation business. Definitely considering this for when my current fixed rate ends in May.

PECO rates:
Current - 3/31 = 8.69c
4/1 - 5/31 = 9.61c
6/1 - 8/31 = 8.82c

(If you want something shorter, FirstEnergy also offers a 3-year plan at 7.85c, same cancellation fee.)