Pennsylvania's PPL announced last week that electric supply rates for non-shopping small businesses will increase by 6% March 1, from 10.206 cents per kilowatt hour to 10.814 cents per kilowatt hour. Residential rates, on the other hand, are scheduled to decrease by about 4%, from 7.544 cents per kilowatt hour to 7.237 cents.
As of February 2013, only 35% of Pennsylvania's residential customers have made the switch to a retail electricity provider. Roughly 3.3 million residential customers still receive electric supply from their default utility. Commercial businesses have switched in greater numbers, with about 45% participating in electric choice.
In Pennsylvania, small businesses are included in the commercial business category, but we believe there is reason to assume that there is a greater percentage of medium and large commercial businesses, rather than small businesses, that are participating in electric choice. Small businesses are less likely to have the resources, time, and knowledge to make informed decisions on finding the best retail electricity providers and plans to best fit their needs.
Here at ElectricityRates.com, we take much of the time and hassle out of shopping around for retail electricity providers. Residential and small business customers can both use our free Compare & Switch tool to compare providers and their plans. If you are a small business and don't see an option for "business" electricity plans when using the tool, you can fill out this form, and we will compare providers and plans for you For free.
Customers that are currently shopping around and comparing retail electricity providers should look for plans with rates below the newly scheduled rates of 7.544 cents per kilowatt hour for residential customers and 10.814 cents per kilowatt hour for small businesses.