PECO Ends Residential Electric Discounts – Switch to Save
As of January 1, PECO customers have one more reason to shop around for a retail electricity supplier in Pennsylvania’s deregulated electricity market.
Electric rate discounts have ended for more than 171,000 residential heating (RH) customers – those that use electricity for their primary heating source in the winter. In 2012, the average customer on the RH rate schedule that used high levels of electricity in the winter (over 600 kWh) saved 2 cents or more per kWh.
While this difference seems negligible, RH customers saved 32% on their electric supply between October and December 2012 due to the discounted rates. RH customers now share the same rates as regular residential electric customers.
Discounts are also being phased out for roughly 78,000 residential customers using PECO’s Off-Peak rate. This program once allowed customers to install a second line and meter for a portion of their electric service (e.g., electric water heaters) that would shut down service during peak demand periods.
In addition to electric discounts, PECO is discontinuing its PECO Wind program that offered environmentally conscious customers the option to receive renewable energy credits by purchasing all or a portion of their electric supply from wind power.
Residential customers that receive their electric supply from PECO can shop around for a retail electricity provider in order save money on their electric bill. Shopping customers should look for rates lower than PECO’s current Price-to-Compare of 8.69 cents/kWh.
Learn more about switching to a retail electricity provider in the PECO service area.Tags: Electric Bills, Pennsylvania, Switching Electricity Companies