PPL Electricity
PPL electricity customers continue to find savings on their electricity bills.
Since capped rates expired at the beginning of the year, more and more PPL customers have started to shop for third party electric suppliers to save money against the high PPL default electric rates. People are discovering that there are significant savings available for taking the time to compare electric providers.
Businesses especially have benefited from the competitive electricity market. Large businesses who spend over $10,000 a month are saving as much as 30 percent in some areas. Meanwhile, PPL residential customers are saving a more modest 10-18 percent through various electric companies.
While PPL default electric rates are expected to decrease in 2011, current electric rates are well below the 2010 default prices and less than what the 2011 rates are expected to be.
The Pennsylvania competitive electric market has provided a number of product options for electricity consumers, including low variable rates and peace of mind fixed rates.
Right now, the lowest residential electricity offer is $0.08884 per kilowatt hour, a 15% savings off of the default rate. That rate is being offered by Champion Energy, who recently won an award for Customer Satisfaction in Texas. Champion offers consolidated billing in the PPL area, which means that their customers still receive their bill from PPL electric. The only difference is that instead of paying the $0.1044 PPL rate for Generation and Transmission, they will pay $0.0884. The delivery charges remain the same.
mike Said,
September 1, 2010 @ 3:06 pm
Just received a mailing from Champion trying to get me to commit through Dec 2011 at a higher rate of.o905
ElectricityWatch Team Said,
September 2, 2010 @ 4:07 pm
Mike,
It is important to understand that electricity prices are based on future gas contracts and the wholesale electricity market. So while the $0.0905 isn’t Champion’s lowest offer, it is still a good offer as it will lock you in and protect you from increases through December 2011. The lower offer will lock you in for a shorter period of time.
Rebecca Said,
September 3, 2010 @ 7:09 am
Hi Mike,
The offer you received is a special offer just for our current customers who have a contract expiring in December 2010. It lets you lock in 9.05 cents per kWh from December 2010 to December 2011. That’s lower than any other rate that you will find on the PAPowerSwitch.com web site.
While it is higher than your current rate, Energy Watch is right in that it reflects the wholesale electricity prices for 2011. The Price to Compare for PPL 2011 is not yet known, but based on their press release in July 2010, they expect that their price to compare will be somewhere between 9.2 and 9.5 cents per kWh next year.
By locking in a contract extension now for 2011, you get a rate that’s lower than PPL’s expected rate, lower than our public offer for 2011 and lower than any other 2011 rate from the competition. We hope you take advantage of this special offer to extend your agreement with Champion Energy.
Martina Said,
October 1, 2010 @ 4:54 am
I just switched to Champion Energy and what’s making me nervous is that I don’t know if PPL will charge me some kind of penalty for switching. Any insight you can provide would be greatly appreciated!
ElectricityWatch Team Said,
October 4, 2010 @ 12:21 pm
You do not have to worry about PPL charging you a penalty for switching.
1. It would be illegal for them to do so as it would completely contradict the Pennsylvania Electric Generation choice and Competition Act.
2. PPL is no longer in the business of providing competitive supply rates, which is what Champion Energy and other alternative suppliers do. PPL is only in the business of delivering the power which is still regulated by the state. Even after you switch to a lower supply rate, you are still a PPL customer as they are the company that delivers the electricity. There revenues and profits are monitored by the state. They do not earn profits from the default supply service that you were getting before you switched companies.