Pennsylvania energy deregulation has made it possible for consumers to choose their own retail energy supplier. Choosing a competitive supplier can help to cut electricity rates. Consumers can also lower their power bill with a variety of programs and rebates. In addition, consumers can learn about green energy options to save money. The key to savings on your electricity rate is to shop around at off-peak times when demand for energy is low. The SaveOnEnergy marketplace makes it easy to compare rates and plans in your area.
Penn Power serves both as a retail energy provider and utility, meaning that they provide the electricity to homes and businesses. They are in charge of maintaining the power lines that deliver energy to consumers and responsible for restoring power after storms or other disasters. They are also responsible for determining their energy prices, which can change on a seasonal basis.
The default generation rates set by the state are determined by auctions held four times a year. These auctions determine the price per kilowatt hour that utilities will pay for the power they buy from generator companies. These rates are then passed on to consumers by the state’s public service commission.
While the Pennsylvania electricity rates set by the default supplier may be high, there are a number of competitive suppliers that offer rates significantly lower than what the default provider charges. To find these offers, consumers should look for the “Price to Compare” on their utility’s electricity rate notice and then compare this to prices from licensed energy generation providers. This way, consumers can be sure that they are getting the best deal on their power supply.
In addition to shopping for a cheap energy rate, Penn Power customers can also take advantage of several energy efficiency programs offered by the company. They can get a home energy audit, improve the efficiency of their appliances and receive home heating and cooling rebates. In addition, low-income homeowners can take advantage of the WARM program to reduce their energy bills.
Another option for Penn Power customers is to switch to a fixed-rate plan that locks in their energy rate for two or three years. This type of plan protects against future energy rate increases and helps to stabilize their monthly electric bill. When comparing prices, customers should consider the length of the contract, early termination fees and other factors when deciding on the best plan for their needs. Alternatively, consumers can go with a variable-rate plan and let the market dictate their rate. This can be cheaper in the short term, but the rate can spike if market prices are high. If you are interested in saving on your Penn Power electric rates, shop for a new plan today.