PPL Electric Utilities announced on Friday that they will be increasing their electricity rates for small businesses.
The Pennsylvania electricity provider posted updated energy prices Friday for those consumers who do not shop for their electricity supply. Effective Dec. 1, the price to compare for small business customers will be 7.224 cents per kilowatt-hour, up about 6½ percent from the current 6.776 cents per kwh.
The price changes are market driven. In the case of the small business rate, which increased for the upcoming 6-month period, PPL said the contract prices that came in from the most recent auction were higher than in prior auctions.
According to PPL, 47 percent of small business and 58 percent of residential customers purchase their electrical supply through PPL Electric Utilities.
According to PPL Spokesman Joe Nixon, the typical business customer will see an increase of $4.68 per month, to $117.78.
Customers who do shop for their energy are not affected by this change, said Nixon. Customers always have the option to shop for the best price, he said.
Small business owners can always shop for cheaper electricity rates to help save money on monthly bills. Their options include using the official PA Power Switch website or requesting a customized business quote through ElectricityRates.com.