Customers of the electricity utility company Duquesne Light can save big money on their electric bill by shopping for lower electricity rates.  Duquesne Light, which serves the Pittsburgh and surrounding areas, raised their price to compare rates in January 2011.  The price to compare rate is the electric default rate that the state of Pennsylvania mandates Duquesne charge their customers who have not chosen a competitive supplier.

With Pennsylvania now a fully deregulated electricity state, Duquesne Light is now just the local electricity delivery company.  Residential electricity customers in the Pittsburgh area can save as much as 19% on their electric bills by signing a fixed electric rate with a competitive supplier.  Customers will still receive their monthly bill from Duquesne Light, the only difference will be that instead of paying the high default rate of 8.89 cents per kilowatt hour, they can pay a rate as low as 7.19 cents.

As of January 2011, 21.3% of Duquesne residential customers have switched electric suppliers.  That number is expected to increase as the saving potential for these customers has recently increased.

Check out current competitive electricity rates in the Duquesne Light area:

PECO energy customers might notice a slight increase on their energy bills this month.   February 2011 will mark the first set of bills that PECO electricity customers receive that include PECO default rates since capped rates were lifted on January 1, 2011.

Many PECO customers are still unaware that they have a choice when it comes to who supplies their electricity, and some of those choices will result in savings on the electric bills.  Though it should be noted that many electric suppliers are offering rates that are higher than current PECO default rates.

Most electric suppliers offering service in the PECO area offer a single billing option.  In other words, if you choose to switch electric suppliers, you will still only receive one electric bill per month from PECO for the delivery and supply of your electricity.  The alternative would be to receive two bills; one from PECO for the electricity delivery, and one from the new electric supplier for supply service.

The single billing option combined with a lower electric rate than the PECO price to compare rate make switching electric suppliers equivalent to getting a rebate from PECO energy.  For example, if you choose a fixed electric rate of 8.9 cents from an alternative electric supplier, you in effect are getting a PECO rebate of 10% off of the current PECO electric supply rate of 9.92 cents.

Below are “PECO Rebate” offers from electricity suppliers who offer single billing.

PECO energy announced earlier this month that residential electric rates for their customers will increase on April 1, 2011 to 10.16 cents per KWh.  Customers in PECO energy territory recently experience rate hikes to 9.92 cents on January 1 when capped electric rates were lifted and the area became a fully competitive electric market.

With capped rates now lifted, PECO energy will adjust their electric rates for their residential customers every three months.  The rates will be based on the market prices.  It is important for people living in Pennsylvania to understand just how quick electric prices can increase.  There are roughly 1.4 million electricity customers in the PECO area who are now facing electric choice for the first time.

Customers should consider locking in rates so that they do not face the surprise of their electric bill doubling or even tripling in the summer months.  That is precisely what happened to many Texas electricity customers in July and August of 2008 when electricity prices tripled in just a few months, right in time for the summer peak electricity demand season.

There are over a dozen electric rate options for PECO customers looking to compare electric offers.  It is recommended that customers choose a fixed rate to protect themselves from potential increases.

Electricity customers being serviced by the utility PECO energy in southeast Pennsylvania have started to shop the competitive electric market for low electric rates.

On January 1 the electric rates that the utility charges will be lifted after being fixed since 1998.  The majority of businesses will see an increase on their electric bills.  PECO Energy business electric rates will be between 9.37 to 9.57 cents per KWh depending on the size of the business.  These commercial electric customers will be able to find lower priced electricity by comparing the rates of alternative electric suppliers.

The alternative electric suppliers will offer competitive rates to replace the PECO price to compare rate.  In most cases, depending on the alternative electric supplier, businesses will continue to receive their electric bill from PECO energy.  PECO still serves at the regulated utility for southeast Pennsylvania customers.

Competitive Commercial electricity rates in PECO can save customers between 7-15% off their monthly bill.  Larger commercial and industrial customers can save even more.

Current PECO Competitive Commercial Rates (updated daily):

The time and energy that it takes to compare electric rates can be overwhelming for some.  However, with a little research and education, customers in Texas, Pennsylvania, New Jersey, Maryland, Delaware, and Connecticut can lower the cost of their electric bill by comparing electric rate offers from electricity companies against the electric rates of the local utility.

Electricity customers attempting to compare electric rates should look at a few key elements for every offer:

1. Is the electric rate fixed or variable.  A fixed rate will secure the electric rate for a set period of time as stated in the electricity contract.  Variable electric rates will usually have low introductory offers, but will contain to guarantee as to how high the rate can go.

2. Meter charge.  A large meter fee (anything above $5) can make a rate appear low when really the electric company is just charging you more in another area of the bill.  The average size house uses about 1000 KWh a month.  A rate of $0.09 per KWh will equal a $90 bill.  Adding a $10 meter charge would be the equivalent of adding a whole penny ($0.01) to the rate.  So a $0.09 cent rate with a $10 meter charge is the same as a rate of $0.10.

3. Is any proportion of the energy you buy derived from green energy sources? Some people are only concerned about the price, but if you are interested in helping you environment you can request a portion of your energy to be generated from green energy (usually wind power).  There are 100% wind power electric contracts available, but usually you will be rate that is a little higher.

These are three of the main things to consider when taking the time to compare electric rates.

For a list of pre-screened electric rate offers, visit our ELECTRICITY PRICES section to find low electric rates in your state.